The Market Today broke a record. For the first time in nine years, soybean futures did not rise on the release of the January WASDE report. With the exception of soyoil, it was pretty much a bearish week for the futures market. In fact, it has been a month of declining prices. Today’s USDA January March WASDE report only reinforced that dynamic, but the market did not overreact to its view of increased supplies. March soybeans lost 32 cents (-2.5 percent) for the week and closed at 1224.25/bushel. March soymeal lost $7.30 (-1.9 percent) for the week to end at 362.1/ST. And March soyoil added 0.62 cents (1.3 percent) to a final value of 48.25/pound. Soyoil was the only part of the grains sector to end the week in the green. It was als...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.