U.S. Soy Export Sales Much Higher Than Expected Market analysts surveyed by Dow Jones this week expected today's USDA export sales report to show that last week U.S. exporters sold 550,000-750,000 MT of soybeans and 75,000-150,000 MT of soymeal. However, the report indicated U.S. exporters actually sold 1,608,800 MT of soybeans and 236,100 MT of soymeal. The soybean sales number was a marketing year high, and was almost 150 percent of the midpoint of the analysts' estimates. U.S. export sales may soon slow as the South American harvest ramps up, but clearly that has not occurred yet.The main buyers of the soybeans were China (845,600 MT), Egypt (130,500 MT), Netherlands (125,500 MT), Mexico (104,700 MT), Spain (81,600 MT), Japan (69,900...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.