USDA raised its estimate of U.S. corn exports in 2017/18 to 2.4 billion bushels in the July WASDE. This increase was based on the large volume of open unshipped sale plus the record pace of export shipments in March, April and May as well as the record corn exports for June expected in the yet-to-be-released Census Bureau data. In its comments, USDA observed that if its 2017/18 forecast is realized, it would be close to a record export performance. In fact, the record volume of U.S. exports during a corn marketing year (September-August) occurred in 2007/08 when they reached 2.44 billion bushels. Over the years, the annual volume has varied considerably based on a variety of factors affecting available U.S. supplies, competitor supplies an...
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
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.