Larger Than Expected NOPA Soybean Crush Total in March Yesterday’s NOPA soybean crush report for March came in well above the average estimate of analysts queried by Reuters. The analysts had predicted the crush would be 175.163 million bushels (4.767 MMT), but the NOPA report indicated the crush in March was 181.374 million bushels (4.937 MMT). The amount crushed exceeded the March 2019 crush volume of 170.011 million bushels (4.627 MMT) by 6.7 percent. It also was the most soybeans NOPA members have ever crushed in any month exceeding the previous record of 176.094 million bushels (4.816 MT) set in January of this year. The NOPA report indicated NOPA members had 1.899 billion pounds (861,138 MT) of soyoil stocks at the end of Marc...
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.