The soy complex was once again supported by renewed strength of soymeal futures. It appeared that commercial end users were buying meal futures as protection against a continuation of the major rally in meal prices that began in April. This put some air under soybeans as well. General Comments Overnight trading in CME grain and soy futures continued yesterday’s downward price action, although it was much more subdued. There were further losses across the board, but they were modest and limited. Trading at the Dalian Commodity Exchange took a similar pattern with mostly small losses for soymeal, corn and soybeans. Dalian palm oil was also slightly lower even though short covering rallied Malaysian palm oil prices.The CME day session was no...
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.