April and May corn basis have started to heat up in Argentina due to several factors. There are still some shorts in the market, and those with port logistics will sell only at an attractive basis quote. Meanwhile, demand for deferred shipments (July onward) is still absent following release of the WASDE report. Soybeans Argentina Argentina’s soybean harvest has started to make progress after last week’s rains and reached approximately 12 percent, which is 6 percent behind last year’s pace. There are 1 million hectares under water, so the national production of 57 MMT could drop to 56 MMT. That depends on weather conditions in the next few weeks, but yields are still very good at an average 3.6 MT/hectare despite the rains.The soybean ma...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.