Domestics U.S. soybean supply and use projections for 2022/23 are unchanged from last month. USDA explained that due to their review of EPA's recent proposed rule for renewable fuel targets, soybean oil used for biofuel for 2022/23 is reduced 200 million pounds to 11.6 billion. Soybean oil exports are also reduced due to slow export sales. With reduced use of soybean oil for biofuel and exports, food use and ending stocks estimates were raised. However, the estimated impacts on prices are modest: The U.S. season-average soybean price forecast is unchanged at $14.00 per bushel; The soybean oil price is reduced 1 cent per pound to 68 cents; The soybean meal price forecast is increased $10.00 to $410.00 per short ton...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.