Soybeans Brazil There was some interesting movement of old crop soybeans last week from Brazil to China. After several days of the weaker real, stronger CBOT and U.S.-China trade talks driving old crop basis lower, the Chinese decided to jump into the market. Their crushing margins had improved substantially on the back of strength in Dalian futures, reaching near $30/MT. The Chinese bought several cargoes of September, October and November shipments, both FOB and CNF. FOB traded at +185X for first half October, and CNF traded as low as +283X for November before then rebounding. It has been difficult to get offers so far this week, although there was a rumor of a cargo offered at +300X CNF. If true, that would show an increase of 15 cent...
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.