Net new export sales of U.S. soybeans last week totaled only 155,000 MT. However, this year's total is 41.248 MMT, 2.7 percent above USDA's December forecast for U.S. soybean exports in all of 2013/14. India Raises Tariff on Refined Vegoils to 10 Percent The government of India (GOI) today raised its tariff on refined vegoils from 7.5 percent to 10 percent. It left the tariff rate for crude vegoils unchanged at 2.5 percent. The country's vegoil refiners have been pressing for the refined oil tariff rate increase as large growth in refined oil imports has sharply curtailed the country's refined oil production. Imports of refined palm oil increased by 40.5 percent to 2.2 MMT in the first 10 months of CY 2013, mainly because both Indonesia a...
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.