U.S. New Crop Soybean Export Sales Above Pace of 2016/17 As of today, U.S. exporters have reported to USDA the sale of 25.997 MMT of soybeans for export in MY 2020/21, including 15.073 MMT reportedly sold to China. A year ago, sales totaled only 6.403 MMT with only 0.260 MMT sold to China. What is interesting is that this year’s new crop sales exceed the amount sold for export on 1 September in MY 2016/17 when U.S. soybean exports reached 58.964 MMT, the highest ever. The total sold at this point in 2016/17 was 22.298 MMT for all destinations with 9.031 MMT sold to China. There is every reason to believe U.S. soybean export sales will continue strong in much of MY 2020/21. Brazil is effectively out of soybeans for expor...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
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.