Low demand is the main reason for the lack of movement in Argentina's FOB corn market, and there are a few factors causing domestic and Brazilian consumers/buyers to wait for a bigger drop in premiums or even the flat price. Soybeans Argentina The Argentine harvest was 70 percent completed at the end of last week, up 17 percent from the previous week and 15 percent ahead of last year’s pace. More than 13 million hectares have been harvested so far, totaling approximately 43.4 MMT with a national average yield of 3.34 MT/hectare. Despite the lower average yield, some regions are reporting theirs as still above average. Projections indicate a final yield of 3.19 MT/hectare, which would be 0.2 MT/hectare above the 2014/15 campaign’s record...
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
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.