The U.S. soybean harvest is in its final stretch. Meanwhile, the corn harvest is more than half done, although progress is behind the average rate for the end of October. Once again, the U.S. is producing very large soybean and corn crops. U.S. winter wheat planting is also in its last stages, but the amount of land being devoted to it remains a question with cash wheat prices so low. The key soybean areas of north/central Brazil are receiving rain, finally, with signs that the seasonal wet pattern will continue at least long enough to get the newly-planted crop off to a good start. And whereas it is true that Brazilian soybean planting is well behind last year’s early pace, this year’s progress is close to average. Chinese soyb...
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.
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...