Argentine Soy Crop Forecast Cut to 40 MMT The Rosario Grain Exchange today slashed its forecast for Argentina’s 2018 soybean crop from its February estimate of 46.5 MMT to 40 MMT, which would be down 16-17 MMT from 2017. The growing consensus seems to be that it will total 40 MMT or less because of the severe drought in the current growing season. It is increasingly clear that Argentina will export less soymeal and soyoil in its MY 2018/19 than in the current marketing year. The only way it can avoid that is to not export any soybeans and convince local farmers to sell all their stored stocks for crushing, but that will not happen. It is more likely that the volume of soybeans processed domestically will decline as will exports of s...
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.