All corn acres in the U.S. are past the deadline for full crop insurance coverage, meaning that farmers can either elect to take prevented planting payments or plant late and see crop insurance coverage drop for each day past the deadline. 5 June is the latest deadline, mostly in the eastern Corn Belt, and the last day to elect prevented planting is 15 days after. Farmers who elected to take prevented planting coverage were assumed to be ineligible for the Market Facilitation Program (MFP) payments, which are intended to offset the impact of retaliatory tariffs on U.S. crops. Yesterday, however, USDA Secretary Perdue issued the following statement: USDA is not legally authorized to make Market Facilitation Program payments to produce...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.