Soybeans Market Update Last week China finally decided to buy more U.S. soybeans, purchasing approximately 2 MMT. The stocks were mainly from the Pacific Northwest (PNW), but there was some volume from the U.S. Gulf (USG). The trades were around 148/150 for PNW and 162/160N for USG, all performed as CNF. These were far more expensive than Brazilian offers for those positions. Brazil can sell July at +140N CNF China and June at +130N. Those prices are 20-30 cents cheaper than USG without considering any quality discount for the Gulf basis, which normally is around 5 cents/bushel. Brazil The Brazilian market was very slow last week as trading houses were waiting for China. Finally, China moved on June forward, leaving space for Brazil to...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.