Despite a decline in the landed price of imported soybeans to $425/MT last week from $435/MT the previous week, the crush margin remained under significant pressure. At an average RMB 217/MT ($32/MT), the margin gains from the fall were completely erased, driven mainly by one factor.
Oilseeds Soymeal Inventories Hit Highest Level Since Mid-August China’s estimated soymeal inventories reached 866,600 MT as of mid-February, the highest total since 12 August 2016. The average utilization rates of China’s major soybean crushers have remained relatively high since the New Year celebrations concluded, particularly compared with this past December and early January when pollution controls were put into effect. On the deman...
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...