Trading is bracketed by bearish crop yields and passable weather on one side, and reasonable demand on the other. The former prevailed today in corn, soy and beef, the latter got the better in wheat and pig meat. White House economic advisor Larry Kudlow said China’s buying looks good, but there was no flash sale today. Instead we had the Pro Farmer crop tour and it is not reporting anything dramatic. Iowa is deathly dry but like the rest of the region, it may get good relief rains later next week. The full report from Pro Farmer should be released tomorrow and it will show that some areas have big yields, some parts of the Belt are underperforming average but are still better than last year. Fundamentally, it will not change the cur...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.