Wheat The rains that fell across Argentina last week covered a good part of the wheat-growing area, but the accumulated water was very little so soil moistures and the crop conditions continue to worsen. Only 14 percent of the wheat crop was rated good/excellent at the end of last week, down from 50 percent this time last year and 31 percent for the three-year average. The Rosario Grain Exchange is now discussing a crop that could be as small as 16.5 MMT, the lowest officially reported estimate so far, but one in-line with private analysts’ and traders’ thinking. There has been irreversible crop damage done in parts of Argentina, particularly the north, but current forecasts offer good rains for the first week of October. If th...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.