Wheat Argentina’s wheat crop is 15.5 percent harvested and is only yielding 1.04 MT/ha. As the harvest progresses to the southern portions of the country, the average yield will increase considerably. In the northern end of Santa Fe and Cordoba, there are already respective reports of 1.4 MT/ha and 1.1 MT/ha yields while in the northern edge of the core wheat-growing area, yields are near 2.5 MT/ha. For every area, however, yields are still very low. Due to poor yields so far, the Rosario Grain Exchange lowered its crop estimate from 17 MMT to 16.7 MMT, which is in-line with the Buenos Aires Grain Exchange’s 16.8 MMT forecast. Most private firms are discussing a crop near 16.75 MMT as well. The arrival...
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.