MARKETS Recent weakness of the real and the bounce in CBOT soybeans produced a good volume of farmer selling. On Tuesday it was estimated that about 1.5 MMT of soybeans were sold from farmers to exporters; around 900,000 MT-1 MMT were sold to China.In Argentina, farmer selling is almost null for the moment. Chinese buyers keep looking for October and November shipments but for the moment they should buy from the United States.The lack of U.S. and Brazilian beans for September and October will probably give some opportunity to Argentine and Uruguayan beans during that time period. In fact, there are already export licenses for 6.2 MMT, something unexpected a month ago. Argentine beans can have worse quality than U.S. and Brazil but with...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.