GOOD MORNING, Prices opened lower and continued the sell-off driven by soyoil's sharply lower price action, as talk circulates that the Biden administration might offer biofuel waivers to refiners and palm oil closed sharply lower once again. The Chinese Ag Minister lowered bean estimates of domestic bean use and imports from 102 mmt to 100 mmt. China's Ag Minister stated that they could reduce corn feed to 286 mmt vs. 293 mmt prev and 278 mmt last year due to alternative feeds. Funds are long, and these items along with lower world veg oil prices and broken lines of technical support finds prices lower again today. The June 30 report looms large, and prices are attempting to adjust and find ranges int...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
Key Takeaways: Indonesia will raise its biodiesel mandate from B40 to B50 on 1 July, increasing palm oil–based diesel blending to 50 percent. The policy supports domestic palm oil demand and reduces reliance on imported diesel. Indonesia’s biodiesel program has steadily expanded si...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.