India has decided to increase the blending rate of ethanol in gasoline to 22.5 percent. However, the big question pertains to how this ethanol will be sourced. Several factors prohibit the country from even reaching a 5 percent blend mandate in sugar year 2015/16. Pulses Prices to Rise as India Seeks Imports from Mozambique The government of India (GOI) is hopeful that the country’s farmers will grow more pulses, possibly as much as 20 MMT, as a result of the increased Minimum Support Prices (MSP) and higher demand. Smaller crops totaling 17.15 MMT in 2014/15 and 17.06 MMT in 2015/16 together with higher demand of 24 MMT led to the spike in prices, forcing the government to create a buffer stock of 110,000 MT. Separately, GOI has contrac...
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.