Corn Argentina’s corn harvest is moving faster now that the soybean harvest is nearing its end. Over the past two weeks, farmers harvested 7 percent of the corn, bringing the total harvest to 36 percent completion. WPI expected better progress than that, but high moisture levels in the crop are limiting harvest progress. Hopefully, the sunny days and frosts that are forecast for this week will help dry the corn and allow harvest to move faster. The latest yield data is coming in better than expected and the Buenos Aires Grain Exchange still forecasts the crop at 46 MMT. The Rosario Grain Exchange is more optimistic with a forecast of 50 MMT while most traders/analysts are somewhere in between the two numbers. Farmer sel...
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...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their 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.