U.S. Soy Export Sales Update After weeks of substantial sales, USDA’s weekly export sales report indicated there was a sharp drop for the week ending 14 March. Net soybean export sales totaled only 399,500 MT, a 79 percent decline from the previous week. The largest sales were to Germany (155,900 MT), China (142,600 MT), Egypt (88,700 MT), Japan (70,200 MT) and the Netherlands (63,300 MT). However, they were partially offset by reduction in sales to unknown destinations of 237,500 MT and Mexico of 31,400 MT. Outstanding sales for shipment in 2019/20 were reduced by 64,400 MT as a result of a cancelled 69,500 MT sale to China. Soybean exports totaled 1,015,100 MT, mainly to China (268,600 MT), Egypt (173,700 MT), Germany (155,900 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
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.