Markets opened today pretty much where they ended in the overnight and pretty much stayed that way all day, which is to say in the red. And it did so pretty much across the board on lower volume. There was just not any real change in the story of impending big U.S. crops arriving on top of big South American supplies, with China favoring the latter. There was a new contract low in Minneapolis wheat, but otherwise it was a humdrum continuation of the current bearish trend, with no end in sight. For the week, old crop corn and soybeans closed back below their iconic levels of $4 and $10, respectively. It was a third straight week lower for HRS, the second week higher for soyoil, and the fifth week in a row for higher cattle future...
What You Need to Know Today: U.S. Treasury Secretary Bessent said Friday that the U.S. has seized $1b of Iranian crypto assets. Iran’s IGGC says 15 merchant vessels, including 4 oil tankers, have passed through the Strait of Hormuz in the past 24 hours. Managed money traders...
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
Key Takeaways: Acidity: Brazil’s agricultural production rose significantly after agricultural researchers were able to reduce soil acidity in the Cerrado region. Rotation: Farmers in the Center-West of Brazil, where the Cerrado is located, enjoy a soybean/corn double cropping advantage...
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.