Soybeans: USDA’s outlook for 2023/24 is higher U.S. ending stocks, up 25 million on higher yields, to 245 million bushels. The U.S. season-average soybean price for 2023/24 is forecast at $12.90 per bushel, unchanged from last month. The soybean oil price was reduced 2.0 cents to 61.0 cents per pound. The soybean meal price is unchanged at $380.00 per short ton. The global 2023/24 soybean ending stocks are reduced 1.1 million tons as higher stocks for Brazil and the United States are more than offset by lower stocks for China: China’s beginning stocks are reduced on lower soybean imports for 2021/22 and 2022/23 and higher crush for 2022/23. ...
Monday was Labor Day, the traditional end to the summer grilling season and high demand for cattle. Additionally, it marks the calendar end of summer heat and a transition into more moderate temperatures. As such, the next two months are the largest marketing periods of the year for feeder catt...
Key Takeaways: Corn and soybean meal markets are tightening together for the first time in more than a year, driven by lower U.S. yield expectations and continued Chinese soybean demand. A strong El Niño is replacing last year’s La Niña, shifting crop risk across the Americ...
Key Takeaways: Dry bulk markets saw diverging trends this week as Capesize vessel rates surged on strong demand while Panamax and smaller vessel classes saw mostly steady/firmer trade. The situation in the Persian Gulf continues to deteriorate with hopes for an Iran-Oman managed system o...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.