Strong buying occurred in soybeans today with the November contract closing up 17¼ cents today. Both soymeal and soyoil offered early support as did higher price action in international vegoil prices. Meanwhile, corn’s three-day price rally has little justification from a fundamental perspective except for two related factors. General Comments Overnight trading at the CBOT was marked with buying strength in the grains complex. November soybeans led the rally, finishing the overnight session up 6¼ cents, while corn and wheat were more reluctant followers, closing up 2 cents and 2½ cents, respectively. The rally in soybeans was spurred by wet weather in the northwestern Midwest, which is delaying harvest and exacerbating mild tightness in o...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.