Wheat futures sank lower the day before the December WASDE on concerns that the USDA will cut its U.S. export forecast in the coming report. Certainly, the slow pace so far this year could justify such a move, and traders were taking risk off the table heading into the report. Similarly, the market viewed soybeans as at risk of export cuts and pushed that market lower before a rally in soymeal helped pull futures 10 cents higher by the close. The EPA’s new biofuel mandates cratered the soyoil market overnight, but technical buying returned around mid-day to push the market off the day’s lows. Corn futures were largely flat in two-sided trade heading into the December WASDE. Outside markets were mostly higher and supportiv...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.