The large soymeal export sales of the past two weeks were made possible by lower prices that were partially caused by a glut of DDGS in the domestic market, which resulted from one country's policy change. Another Good Week for US. Soymeal and Soyoil Export Sales Today’s USDA export sales report showed last week was good for U.S. soybean processors. Net new soymeal export sales in the week ending 2 February totaled 347,700 MT, slightly below the previous week but 35 percent above the past four-week average. The top destinations were Mexico (98,300 MT), the Philippines (97,000 MT), Ecuador (50,000 MT), Colombia (33,000 MT) and Morocco (25,000 MT). Soymeal exports totaled 314,200 MT for the week, a marketing year high. They were primarily d...
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.