The Buenos Aires Grain Exchange recently toured the region south of Buenos Aires and estimates that 150,000 hectares have been entirely lost to flooding. This acreage consists of 60,000 hectares planted to wheat and 90,000 planted to barley. Soybeans There is presently no wait time at the port of Paranagua for soybeans. This is a result of the recent drop in Chicago soybean contracts, which is making Argentine and Brazilian soybeans totally uncompetitive against the U.S. where prices in the U.S. Gulf for September are $318/MT and $308/MT CNF.Planted acreage in November and December could be substantially different in South America because soybeans are the least expensive crop to plant. Unlike their U.S. counterparts, farmers there manage...
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...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.