While last week’s imported soybean price of $432/MT was a $1/MT improvement from the previous week, the average crush margin on those imports fell to RMB 382/MT ($55.36/MT), a decline of RMB 35/MT ($5.07/MT) from the week prior. The outlook for that margin will depend on several developments.
Oilseeds Soymeal Inventories Sink Further as Crushing Activity Falls Stepped up environmental controls by China’s State Council and the Ministry of Environmental Protection have resulted in a greater number of crushing facilities suspending operations. With wintery temperatures in the high 20s (F) throughout northern China and in the low 40s (F) around Shanghai, air pollution has become quite pronounced in the past few we...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
