According to USDA: U.S. soybean supply and use changes for 2018/19 include higher crush and lower ending stocks compared with last month’s report. With exports unchanged, soybean stocks are projected at 900 million bushels, down 10 million from last month. The season-average soybean price range forecast of $8.10 to $9.10 per bushel is unchanged. The 2018/19 global oilseed outlook includes lower production, crush, and increased stocks compared to last month. Soybean production is reduced 0.9 million tons to 360.1 million on lower production for Brazil and Paraguay. Production for Brazil is down 0.5 million tons to 116.5 million, reflecting dry weather conditions and lower yields for Minas Gerais, Ma...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
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.