It was a relatively tempered day in the proverbial trading pits with things not going quite as expected. • While the export sales report this morning imposed strong bearish sentiment on corn and the December contract trading down six cents at one point, it ended up taking a very minor loss. • Wheat prices were aided by continued problems in the HRS crop, but it was the Minneapolis contract, over-bought after rising for six straight days, that ended in the negative. By contrast, Chicago and Kansas City had gains. • Strong export sales and talk of even more Chinese soybean purchases made it seem that bulls would take out the shorts in the market. Indeed, the November contract at one point was trading up six...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.