The Market CBOT December soymeal hit a new contract high today at 448.4 and with a gain of $12.19 at the close, the value is 442.4/ST, a 4.3 percent gain for the week. It now meets the highs seen last March. Soybeans and soyoil no doubt benefited from soymeal’s pull this week and both had gains on Friday, but not enough to prevent a loss of value for the week. November soybeans traded over the iconic $13 level today and on high volume it added 17.75 cents. But ending the week at 1297/bushel meant a loss of 0.4 percent. Similarly, December soyoil gained 0.53 cents on Friday to end the week at 52.27 cents/pound, a 2 percent loss on the week. Improved weather conditions in South America were a major market driver this week. It pu...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.