Soybeans Brazil After a few quiet weeks, demand from China moved again. Much improved gross crushing margins there (above $25/MT) prompted crushers to buy all the soybeans available in Brazil for August, September and October. The market was turning heavy before this development but then reacted suddenly. Around 10 cargoes were traded last Wednesday, and basis jumped 15 cents by the following day. The Paranagua paper market had a similar reaction as several sellers decided to hedge there. 15 July and August traded at +240X and 248X CNF China, respectively. By Thursday, the market traded at 260X for August with basis continuing to rise. Then on Friday, one FOB cargo traded September at +205X, giving a CNF equivalent of 300X for October sh...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.