Soybean and soymeal futures finished the week strong despite last week’s relatively bearish USDA numbers. Ongoing dry weather across much of Argentina and parts of southern Brazil (now starting to extend to the northeast region) has paused or slowed fund selling. Funds were estimated to be short 85,000 contracts of soybeans and long soymeal starting today. (Fresh numbers from the weekly Commitment of Traders report will be available later today.) USDA did reduce its estimate of Argentina’s soybean production from 57 MMT to 56 MMT last week. However, it increased Brazil’s production estimate by 2 MMT to 110 MMT. Argentina will plant a few less acres than expected because of the dry conditions, but the Buenos Aires Exchang...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.