U.S. Soy Export Highlights The week ending 30 April was not a good one for U.S. soy exports. Sales of soybeans, soymeal and soyoil for shipment in 2019/20 were all down from the previous week. Net soybean exports sales last week for 2019/20 shipment totaled 653,100 MT. That was down by 39 percent from the previous week. The top sales were for China (287,900 MT), unknown destinations (115,400 MT), Mexico (71,100 MT), Egypt (50,900 MT), and Algeria (45,000 MT). Sales for shipment in 2020/21 totaled 177,500 MT with China (132,000 MT), Mexico (43,500 MT) and Thailand being the top destinations. Soybean exports last week totaled 440,500 MT, 11 percent below the past four-week average. The top destinations were China (210,900 MT), Mexico (65,80...
Beef packer margins deteriorated to -$218/head last week, down $20 from the prior week as a softer Choice cutout combined with slightly lower fed cattle prices. The cutout slipped to $391/cwt while fed cattle prices eased to $256/cwt, leaving packer profits under pressure. Margins remain deeply...
What You Need to Know Today: The U.S. and Iran agreed to a peace deal on Monday with the deal expected to be signed Friday in Switzerland. The memorandum signed is explicit that Iran will allow 60 days of toll-free transit for all traffic through the Strait of Hormuz, and President Trump annou...
The U.S. and Iran announced a framework peace deal. Crude oil futures dropped to $83.08, the lowest since early March. The breakthrough comes as President Trump said that if Iran failed to reach a deal, he would order renewed military attacks. An LNG tanker chartered by India’s Petronet 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.