Soybeans Market Overview The market was slow in Brazil last week with some action at the beginning on the week when China secured 5-6 vessels for October and November shipment. Later on, there were rumors of a potential agreement, or at least positive meetings between the U.S. and China, on the ongoing trade war. That stopped all demand for Chinese buyers. China purchased some PNW vessels on Monday for October and November shipments, which again stopped all demand for Brazilian soybeans. On the other hand, Brazil is not competitive to any destination other than China, so its exporters need to wait for the Asian giant to resume purchases. Trading houses were slightly long, and most took the chance to sell their position...
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.
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...