With India's planted corn area down and production expected to be impacted by the effects of flooding and drought, several factors could limit any imports to meet demand. India’s Vegetable Oil Demand Rises; Shares of Traditional Oils Drop India’s edible oil imports in oil year 2016/17 (November-October) will likely reach 15MMT. They were at 1.336 MMT in August 2017, down from 1.489 MMT the previous month but higher than the 1.248 MMT in August 2016. They totaled 12.749 MMT during November 2016-August 2017, up from 12.165 during the same period a year ago, and another 2.3 MMT are expected in the remaining two months of the current oil year.From 2001/02 to 2015/16, vegoil consumption has risen from 10.125 MMT to 21.35 MMT or 7.39 percent pe...
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.