USDA projects lower soybean crush and higher ending stocks. With soybean exports unchanged, ending stocks are forecast at 225 million bushels, up 15 million. The U.S. season-average soybean price for 2022/23 is forecast at $14.30 per bushel, up 10 cents from last month. The soybean meal price is forecast at $450.00 per short ton, up 25 dollars. The soybean oil price forecast is unchanged at 68.0 cents per pound. Global 2022/23 soybean supply and demand forecasts include lower production, crush, and ending stocks. Argentina’s crop is reduced 4.5 million tons to 41.0 million on lower area and dry weather conditions impacting yields. Ukraine’s crop is down 0.4 million tons on lower reported area harve...
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.