The corn situation in Argentina is becoming more complicated because of the heavy rains over agricultural areas and numerous vessels arriving at the ports. In order to catch some volume and try to load vessels, exporters are increasing their bids up to +100 CK for spot delivery and +90 CK for May delivery. Soybeans Despite the rainfall of the past two weeks in Argentina, the harvest continued in different areas and reached slightly above 15 percent of the seeded area. Rains have started to produce some damage with approximately 400,000 hectares already lost from a total of 21,100,000. However, the first crop soybean yields in the non-flooded areas are above normal at 3.7 MT/ha. Therefore, we are still maintaining our last forecast for pro...
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: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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.