A month ago, official sources forecasted Argentine wheat production at 8.8 MMT. Just several weeks ago, an official estimated that wheat exports would be close to 3.5 MMT. Major contradictions are occurring. Farming in Argentina In several of the past reports, it was mentioned that Argentine farmers were expected to switch acreage from corn to soybeans due to higher input costs for corn, planting delays due to adverse weather and gross margins in favor of soybeans. This was confirmed when the Buenos Aires Grain Exchange reduced its estimate for corn area by 160,000 hectares (from 3.46 to 3.3 million hectares) and increased the beans area (from 20.2 to 20.45 million hectares). These numbers represent about a 10 percent corn reduction...
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
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.