Corn Prices Remain Higher, Curbing Export Potential The government of India (GOI) estimated the khariff (October harvest) corn production at 21.47 MMT on 26 September 2018, 1.23 MMT more than the final estimate for that season’s crop last year. The increase is despite the uneven distribution of rains during the 2018 monsoon season and the drought conditions in key production areas, including Maharahstra, Karnataka and Telangana. Arrivals in the production areas are slow, and the prices are above year-ago levels. Another reason for higher prices is the increase in the corn Minimum Support Price (MSP), which was announced earlier this year at Rs.17,000 ($232)/MT. Maharashtra has declared drought in 26 districts, and Karnataka is likel...
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...
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...
Let’s return briefly to the fake meat hype cycle, now sitting somewhere in a dusty corner of your mind, not entirely forgotten. What happened to all those products, known as plant-based alternative proteins? They were supposed to be as good as real meat—cheaper, more environmentally...
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.