It may be Halloween, but grain and soy markets carefully stayed away from anything scary or spooky today. Overnight trade saw prices stuck in narrow ranges. Corn and wheat were slightly lower, but soybeans were up a couple of cents at the break for breakfast. Wheat and soybean prices then moved in wider ranges during the day session. At one point, Chicago and KC wheats were down about 10 cents with soybeans up 8 cents. Corn prices stayed glued to the same 4 cent-range that was their home overnight. When today’s markets closed, however, the price results were not far from where they were at the early morning trading break. Wheat finished mostly down 1.5-3.5 cents, although we note for the record that Chicago December was the only whea...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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.