GOOD MORNING, The main trend that started last week, namely firm bean and soyoil trade, continued in the PM session trade. Bean prices continue to see support from more Chinese buying of US cargoes, while soyoil gets support from talk of possible coronavirus aid for the biofuel sector, and a strong palm oil trade. Oilshare is sharply higher this morning. Officially declared bean sales to the USDA for China and unknown destinations for 19/20 and 20/21 now total 1.52 mmt, or 32 cargoes. AgriCensus stated that the number of bean cargoes sold is probably higher than that. China's reiterations that they would honor the Phase One deal, (though US beans are indeed much cheaper than Brazil), keeps prices...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.