Wheat The long-awaited rains have finally arrived in southeastern Buenos Aires, with precipitation totals ranging from 20–50 mm. While the rainfall isn’t sufficient to complete the wheat crop, it provides relief to an area where plants were beginning to suffer. For now, it halts the decline in expected yields, but more water will be needed within days, particularly in the west and southwest.Despite October’s rains, the Buenos Aires Grain Exchange reports that 31 percent of the wheat remains in regular to drought moisture conditions. Additionally, there has been a slight deterioration in crop condition from the previous week, with only 33 percent of wheat now in good-to-excellent condition. October’s rains have supported fields where wh...
What You Need to Know Today: Funds remain in control of the market, which means broadly bearish trade for the ag sector. Monday’s massive corn export sale to Mexico helped trigger some short covering and a bit of other end-user buying in corn, which could help stabilize the market. Wheat...
Crop Conditions-Argentina Corn Corn planting in Argentina has reached 47.3 percent of the projected 8.4 Mha, advancing 7.5 percentage points over the week and running 12.3 points ahead of last season, partly due to a larger early-planted area. Fieldwork gained momentum across western and southe...
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.