The new crop soybean market, which would be most immediately affected by China, did manage to post a nice 14-16 cent rally today. Corn futures were higher most of the session, but prices slipped off to close up only around 2 cents. Wheat futures tried to follow. General Comments A 5.3 percent jump in the Shanghai Composite Index after five days of losses helped stabilize world financial markets. Other Asian and European stock markets followed with gains of their own. U.S. stocks also rallied sharply early on with the Dow up nearly 400 points, supported by the Commerce Dept.'s report that U.S. gross domestic product (GDP) grew an annualized 3.7 percent in the second quarter. The stock market fell back, however, giving up half of the early...
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.