South American soybean markets are quiet and fighting for competitiveness against the U.S. PNW. Argentine corn markets have a large carry from October-November, which may disappear quickly. Soybeans Argentina Argentina’s FOB old crop soybean market was quiet last week. Old crop was offered at $0.60X ($1.65X CNF equivalent) for October and November shipments. That is similar to Brazilian levels but much more expensive than PNW values ($1.31X), making Argentina uncompetitive in the market place.The situation for new crop beans is similar. Argentina was offering $0.30N ($1.25N CNF) last week for April and May shipments, while Brazilian offers were at $1.28N for the same position. This means Argentina needs to lower premiums 20-30 cents for...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.