Brazil Considering Temporary Suspension of Tariffs on Soybeans The Brazilian Agriculture Ministry today indicated it is considering temporarily removing import tariffs on rice, soybeans, and corn to reduce inflation. The tariff exemption is expected to be considered by a trade management committee (Gecex) in September. There is no question Brazilian domestic soybean prices have escalated in recent weeks as a result of very large exports and a weak currency. Yesterday, the spot FOB export price of soybeans at Brazilian ports was $405.75/MT. That was $28/MT higher than the spot FOB price of U.S. soybeans at Gulf ports and $14.75 above the price at NW ports. That high Brazilian soybean price may be positive for Brazilian soybean farmers, but...
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.