The fortunes of domestic soybean processors have steadily improved as the average crush margin grew RMB 4/MT ($0.62/MT) to RMB 103/MT ($15.84/MT) last week, helped by certain developments.
Oilseeds Soymeal Inventory Fell Below 1 MMT China’s estimated soymeal inventory has dropped below the 1 MMT threshold for the first time since mid-May. It totaled 953,400 MT as of 1 September, a decrease of 118,700 MT (-11.1 percent) from the last full week in August. However, it was 242,100 MT higher (+34 percent) versus the start of September 2016. At the regional level, estimated soymeal inventories declined across the board with the largest drop in in Fujian as soymeal inventories there fell 12,800 MT (-33.6 percent) to 25,300 MT...
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...
