World Perspectives
feed-grains soy-oilseeds wheat

Another Curve in the USDA January Reports

Almost everyone expected bearish corn and soybean numbers in today’s series of USDA reports, and that is what they were for the most part. If there was a bearish surprise, though, it came in the winter wheat acreage estimate. Southern Plains farmers apparently planted more hard red winter wheat than anyone expected, and that pressured wheat all day. Winter wheat acres will be lower than last year, but they will not be small enough to generate any buying. The trade was also expecting the soybean export forecast to be reduced, and USDA obliged by cutting 65 million bushels from the previous estimate. That was partially offset by a 10 million bushel increase in the crush forecast and a slight reduction in the soybean yield. Soybean endi...

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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.

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