While wet fields have prevented farmers from planting canola in parts of Alberta and Saskatchewan, there is now a growing threat to the crop in southern Saskatchewan and southwest Manitoba. China’s Record Soybean Imports in May China imported a record 9.59 MMT of soybeans in May, according to its customs office. That was 19.6 percent higher than the 8.02 MMT in April and 25.2 percent more than in May 2016. This volume contributed to a glut of soybeans in China and very large negative margins for domestic crushers. Reports indicate those in China’s Shandong Province were losing the equivalent of $46.21 for each MT of soybeans they processed.The large May imports and negative crush margins have also resulted in Chinese importers seeking to...
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
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.