Argentina's soybeans showed some movement this week in the new crop market with one cargo traded at +43 SN for a 15 April position. Meanwhile, Brazil traded some beans for February, primarily CNF at 149-151 SH to China. Additionally, there was some movement on April/May. Soybeans Confirmation of the huge U.S. crop has definitely been bearish for the market. CBOT has been dropping gradually, and nothing could make it rebound. In addition, CBOT basis have been falling as well. Pressure from barges first forced basis lower, while the lack of demand drove elevation down. Chinese crushers have been taking beans but only at a slow pace. This enabled crush margins to improve at destination as Dalian futures were firm despite the weakness o...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.