Indonesia’s palm oil stocks fell 8.2 percent to 1.8 MMT in June from 1.96 MMT at the end of May. That was the sixth straight month that they have declined, spurred by certain steps taken by the government. Large Sales of U.S. Soybeans Continue Exporters have had enormous success selling U.S. soybeans in the past few days. Since 1 August, sales totaling 2.4562 MMT have been reported with all but 66,000 MT of that for shipment in 2016/17. Sales to China totaled 1.689 MMT, and the remaining 767,200 MT were to unknown destinations. Most likely, a sizable share of the latter will also go to China. Undoubtedly, more sales that were under 100,000 MT will be included in this week’s USDA export sales report.Yesterday’s USDA export inspections repo...
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.