Soybeans Brazil Soybean prices here continue to fall, especially for nearby positions, as the Chinese are well covered for May/June/July shipments. The lack of spot demand pushed basis down 15 cents and boosted the carry to $0.15-0.20/month. FOB and CNF levels keep dropping and are now competitive against U.S. origin. June CNF China traded at 170N last week and is offered at 163-165N this week. July traded at 177N and now has more offers at this price. August shipments are offered at 205N. The Chinese are becoming nervous as they see basis declining every time they buy. Supposedly, the Chinese are already covered for June and will only buy a few more of the very cheap offers. On the other hand, Brazilian farmer selling is active with go...
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.