Cash prices for hard red spring wheat across the Dakotas and western Minnesota continue to press lower, and they are now down to $4.25-4.50/bushel for 14 percent protein content across most of the region. That is cheap by almost any measure. Not only have prices continued to collapse, weather hasn’t been cooperating either. It was another wet and cold weekend across most of the northern Plains this past weekend with blizzard warnings for much of the northern third of North Dakota Saturday and Sunday. Very little spring wheat has been planted yet, and the calendar will turn to May on Wednesday. There is now talk that farmers are starting to change their planting intentions, moving away from wheat toward corn and soybeans. The extent o...
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.