Record NOPA Monthly Crush in October The National Oilseed Processors Association (NOPA) yesterday reported its members crushed 172.346 million bushels (4.69 MMT) of soybeans in October. That not only exceeded the 164.242 million bushels (4.47 MMT) in October 2017, it was the highest monthly total ever, surpassing the previous record of 171.858 million bushels (4.677 MMT) set in March 2018. The October total was also more than the average of analysts polled by Reuters of 170.026 million bushels (4.6278 MMT). High crush margins and strong domestic/export demand for soymeal drove the record volume. NOPA also reported its members held 1.503 billion pounds (681,756 MT) of soyoil at the end of October, down from 1.531 billion pounds (694,457 MT...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.