The CBOT capped a volatile week with aggressive bear spreading in corn and sharply lower days in wheat and soybeans. The USDA’s reports from Thursday continued to drive market action on Friday with traders adjusting to the new expectations of record-large soybean acreage and 14-year lows in wheat stocks. Funds were net sellers for the day and liquidated some 6,000 contracts of wheat, 14,000 contracts of corn, 18,000 contracts of soybeans, and 10,000 contracts of soymeal. Funds were, however, net buyers in the soyoil market and added 8,000 contracts to their existing long position. Another day, another USDA report. This time, it was the Grain and Oilseed Crushing report, which featured a surprising decline in soybean crushings...
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.