While the Argentine government has not released any additional wheat export licenses, it did make an announcement in this election year regarding farmers and the export tax. Soybean Harvest Approximately 50 percent of the Argentine soybean crop is expected to be harvested by 23 April. Although the harvest is progressing, only about three-four vessels have been loaded with new crop from Argentina and Uruguay. However, that may eventually change as protein levels are favorable with Uruguayan soybeans reportedly at around 34.5 percent. Even at Necochea, a typical low protein port, the levels are good and moisture content is approximately 11 percent, well below the contractual maximum of 13.5 percent.The volume of soybeans out of Brazil...
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.