A little less heat and perhaps a bit more rain coupled with a slightly bearish USDA supply/demand report last week brought sellers to the soy complex today. Meanwhile, the smell of rain in the air dumped the Minneapolis wheat contract hard this morning. General Comments Markets started easier Sunday evening, and that selling pressure increased noticeably at today’s opening. Minneapolis wheat futures bore much of the early selling pressure, trading as much as 14-15 cents lower at one point before eventually trimming those early losses significantly. Corn and soybean futures traded 8-10 cents lower much of today’s session and finished in that range. Today’s extended weather forecasts were not as hot for the Corn Belt, and there was a...
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.