Argentine soybeans started this week showing weaker basis. May shipment is offered at 20 SN with demand bidding at 15 SN, and June cargo is offered at +25 SN. Argentina traded 30 cents below Brazil last year and started at 15-20 cents lower this year, but one event today could cause it to drop even more. Soybeans Despite the strong rally in futures today, origination in Brazil was not as important as expected since the real was stronger, offsetting the gains in that currency for farmers. Some traders have initially estimated today’s origination at possibly 300,000 MT. This seems to be a small number and could very well be 0.5-1 MMT.Basis have not yet dropped hard in Brazil since buyers are still waiting for demand to appear. This is basic...
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...
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WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.