Market/trade reports indicate India's soybean crop this year could be 10 percent less because of the smaller planted area as well as the water damage incurred. If soymeal prices move up, the country could lose one advantage. Sugar Imports Allowed Exclusively for South Indian Sugar Mills In a surprising move, the government of India (GOI) has agreed to allow the import of 0.3 MMT of raw sugar at a reduced duty of 25 percent. It took this step as the country is in the midst of festival season with sugar demand likely to rise. In order to safeguard the interests of the industry, GOI had hiked the import duty on sugar in July 2017 to 50 percent from 40 percent. However, supplies remain tight in South India (see Ag Perspectives, 1 Septem...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
What You Need to Know Today: Day three of the Pro Farmer Crop Tour found corn yield potential below last year in both Illinois and western Iowa. Illinois corn yields averaged 184.2 bushels/acre, down from 199.6 bushels/acre last year and the 199.2 bushels/acre three-year average, while wester...
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.