Chinese Back to Buying U.S. Soybeans, May Buy Large Amount for Reserves USDA announced a total of 470,000 MT of soybeans has been sold to a Chinese buyer for 2019/20 shipment in the last two days. The buyer is reported to be COFCO, a state-owned company. Reports indicate the sales are expected to be shipped to China beginning in July. It is possible additional sales of soybeans to China will be announced tomorrow. Reuters has reported China intends to purchase corn, cotton soybeans and soyoil in the future to restock its reserves. The amounts mentioned were 20 MMT of corn, 10 MMT of soybeans, 1 MMT each of cotton and sugar and 2 MMT of soyoil. However, those amounts have not been confirmed. It is likely a large share of the corn and soybe...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.