World Perspectives
feed-grains

Pickup in Grain Loadings

Tomorrow’s weekly USDA Export Sales Report is an important measure of the pace of disappearance for U.S. grains, but another is the volume being loaded onto rail cars. This is true for both domestic consumption but also shipments out of the Pacific Northwest. Feed grain loadings were noticeably down during the summer of 2020 relative to the two prior years. However, they have taken an upshot in September that is in contrast with the recent past.  The fundamental question is whether these loadings continue at an above usual pace. If so, it could signal a catch-up in supply destruction bringing it closer in line with prior calendar years. If it flattens as it has in prior years, it could mean a buildup in surplus stock levels.&nbs...

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Livestock Industry Margins

Beef packer margins weakened further last week, with estimated net losses widening to -$247/head, extending the deterioration seen through late January. Boxed beef values were firmer last week, but gains failed to offset increases in fed cattle prices, resulting in additional margin compression...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.275/bushel, down $0.0125 from yesterday's close.  Mar 26 Wheat closed at $5.3725/bushel, up $0.09 from yesterday's close.  Mar 26 Soybeans closed at $11.24/bushel, up $0.015 from yesterday's close.  Mar 26 Soymeal closed at $303/short ton, up $2.2 from ye...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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