India Importing Record Volume of Soybeans High domestic soybean prices in India coupled with a smaller domestic crop in 2017 is causing processors in that country to import a record volume of soybeans this year. Reports indicate Indian firms have contracted to import up to 100,000 MT since December with the 2017/18 total likely reaching 200,000 MT. The soybeans are said to be primarily sourced from Ethiopia and Benin because those countries have preferential access to that market. India’s most-favored nation (MFN) tariff rate is 30 percent, and it does not allow the importation of GM soybeans. Traders expect soybean imports to continue growing in the future. It is doubtful that the soybeans supposedly sourced from Ethiopia ad Benin...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.