World Perspectives
soy-oilseeds

U.S. Soybean Crush Margin Outlook

The recent strength in U.S. soyoil and soymeal prices has helped push “board” crush margin (i.e., the margin implied or calculated by CBOT futures contracts) to new highs with the VVX margin hitting $1.62/bushel and the HHH margins topping the $1.45 mark for the first time in over a year. The recent surge follows historically strong margins that have persisted for most of MY 2023/24. The profitability offered by the crush margin has been one major factor driving the record-high soybean crush program this year.  The U.S. soybean crush now accounts for about 54 percent of the total annual use, making examination of processing margins and how they will drive the crush sector’s demand germane for soybean demand and pri...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.225/bushel, down $0.07 from yesterday's close.  Mar 26 Soybeans closed at $10.6175/bushel, down $0.06 from yesterday's close.  Mar 26 Soymeal closed at $294.3/short ton, down $5...

feed-grains soy-oilseeds wheat

Mercosure Regional Analysis

CORN As of today, 93 percent of the expected area has been planted, representing a year-on-year delay of more than five percentage points. Some late-planted fields may remain unseeded due to a lack of soil moisture. Rainfall remains absent, while persistently high temperatures are increasing cr...

biofuel energy

E15 Dropped from Appropriations Bill

In a years-long, ongoing policy battle, a provision to secure E15 was dropped at the last minute from the appropriations bill. On paper, the path forward looks clear, as the oil refiners’ association is now onboard with E15; however, there are still many other smaller mechanisms in the le...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.2825/bushel, down $0.0225 from yesterday's close.  Mar 26 Wheat closed at $5.225/bushel, down $0.07 from yesterday's close.  Mar 26 Soybeans closed at $10.6175/bushel, down $0.06 from yesterday's close.  Mar 26 Soymeal closed at $294.3/short ton, down $5...

feed-grains soy-oilseeds wheat

Mercosure Regional Analysis

CORN As of today, 93 percent of the expected area has been planted, representing a year-on-year delay of more than five percentage points. Some late-planted fields may remain unseeded due to a lack of soil moisture. Rainfall remains absent, while persistently high temperatures are increasing cr...

biofuel energy

E15 Dropped from Appropriations Bill

In a years-long, ongoing policy battle, a provision to secure E15 was dropped at the last minute from the appropriations bill. On paper, the path forward looks clear, as the oil refiners’ association is now onboard with E15; however, there are still many other smaller mechanisms in the le...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds maintaining positions in the major ag futures contract, breaking a four-week trend of significant net selling. Funds cut 3,800 contracts from their net all-ags short position last week, with buying in soyoil and livestock futures driving most of that incr...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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