This summary is based on reports from exporters for the period May 24-30, 2019. Wheat: Net sales reductions of 26,000 metric tons for delivery in the 2018/2019 were down noticeably from the previous week and from the prior 4-week average. Corn: Net sales reductions of 8,800 MT for 2018/2019 resulting in increases for New Zealand (33,200 MT, including 33,000 MT switched from unknown destinations), Japan (24,200 MT), Mexico (20,500 MT), Guatemala (13,000 MT, including 4,500 MT switched from El Salvador and 4,000 MT switched from Colombia), and Taiwan (5,500 MT, including decreases of 100 MT), were more than offset by reductions for Nicaragua (27,300 MT), Costa Rica (27,300 MT), unknown destinations (24,300 MT), and the Dom...
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.