Demand-induced nervousness is causing Argentina’s wheat prices to rise, while higher flat prices for corn will soon encourage farmer selling. Soybeans Argentina’s soybean market remains quiet despite last week’s rally that improved replacement for exporters. That replacement fell from +$0.60N FOB equivalent to +$0.25-30N as there were no sellers in the market. This situation is occurring mainly because of the uncertainty surrounding the coming crop’s production. The excessive rains of the past month have produced some notable damage in the soybean belt area. In Santa Fe Province, it rained approximately 600 mm last month versus the normal, annual 900 mm. Consequently, around 3 million hectares were under water during January, including ar...
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...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.