Argentina still has some soybean cargoes available on July and August, and there will probably be some September as well. Today August is offered at 78 SQ, and sellers are offering September for 83 SQ, both for protein basis 33.5. Meanwhile, protein basis 34.5/minimum 33.5 is offered at 86 SQ for August. Soybeans Days of rain prevented completion of the harvest in Argentina, which is 98 percent finished, and more is expected for the coming weekend. Meanwhile, the country’s agriculture department raised its estimate of final production to 58 MMT this week versus 57.6 MMT in May, but most experts believe it will be closer to the 56 MMT range.Argentina was still active in the market this past week, selling one cargo for July shipment at 64 S...
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...
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.