General Comments Grains and the soy complex opened mixed in overnight trading, but the complex soon came under pressure from slumping soymeal prices on China's Dalian Exchange. Soymeal has been a hot commodity in Dalian trade, and it was due or overdue for a profit-taking break, which apparently is what occurred since both Dalian soybeans and soyoil prices were higher. Nevertheless, CME soybeans on Globex chose to follow Dalian soybeans overnight.The soy complex had something else to chew on when USDA announced that 300,000 MT of soybeans destined for China had been cancelled along with a cancellation of 120,000 MT of soybeans sold to unknown destinations. At the same time, USDA announced a sale of 110,000 MT of soybeans to unknown. It a...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.