GOOD MORNING, Prices trend higher on dryness in SA and cold weather extremes in the US. When bull markets begin a break-out to the upside buying activity can be consistent and persistent as funds want to own strength for a leg up. So it goes with corn, which posts another new contract high in the overnight session, along with beans. Dec. corn posts a new contract high at $5.25 3/4, with November beans trade to new contract highs at $12.99 1/4. Adding more fundamental support is the lower forecast for corn production in Brazil by Rabobank, with 20/21 total corn to 105 mmt from 107 mmt prev. as dryness continues. Markit lowered the Safrinha crop to 79.45 mmt vs. 85 mt prev. Fundamentals...
Beef packer margins deteriorated to -$261/head last week, down $19 from the prior week as weaker beef values (especially the Choice cutout) were offset by firmer fed cattle prices, which further compressed packer profits. The cutout slipped to $387/cwt while fed cattle prices held above $259/cw...
What You Need to Know Today: The U.S. and Iran reportedly agreed to pause hostilities to allow vessels to transit the Strait of Hormuz this week (theoretically, at least). There were some rumors of a possible Chinese blockade against Taiwan. Analysts are looking for the largest U.S. 1 June cor...
Proposition 12: The National Pork Producers Council (NPPC) has advocated for a fix to Proposition 12, the California animal welfare law, in the Senate farm bill. The House version of the farm bill included a fix, but the Senate bill, based on the discussion draft released by Chairman John Boozm...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.