NOTE: Technical Perspectives from WPI will not be published Friday, May 28, 2021. SPREADS August crush trades at 75c/bu while oilshare declines to 43.87%. July/Nov soybean inverse bounces off 1.60 1/2c to trade to 1.70c, while July/Dec meal inverse congests from $6.30 to $7.60. July/Dec corn trades down to 1.15 1/4c from 1.19 1/4c, while Sep/Dec inverse breaks down to 27 1/4c from 28 3/4c. PALM OIL August futures closed up 3.4% or 135 ringgits, to close at 4,025 ringgit/MT following the lead of soyoil futures. Traders cautioned that India's purchasing has continued on the decline as it fights covid infections. SGS forecast palm oil exports for May 1-25 at 1.086 MMT, down 2.5% from their Apr...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.