The soybean market tried to sustain a rally. The new crop November contract even scored a four-month high, while May again bumped up against resistance at the 200-day moving average. When it failed to break through, some early technical buyers turned sellers late. General Comments The Fed’s March meeting that ended with seemingly less enthusiasm about the state of the U.S. economy than prevailed back in December did dial back expectations for interest rate hikes in 2016. U.S. dollar bulls had been counting on further increases to support long USD positions that have arguably grown too large. The Fed’s dovish statement caused those longs to start liquidating, and yesterday the U.S. Dollar Index fell to the lowest level in nearly 18 months...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
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.