The Food and Drug Administration (FDA) has informed Arcadia Biosciences and Bioceres S.A. that it has completed review of the HB4 stress-tolerant soybean, which was developed by their joint venture Verdeca. USDA Surprises with Higher-Than-Expected Soybean Yield The biggest surprise in today’s USDA WASDE report was the forecast for an average U.S. soybean yield this year of 49.4 bushels/acre (3.32 MT/hectare) versus the average trade estimate of 47.5 bushels/acre (3.19 MT/hectare). As a result of the higher yield and a forecast for 88.7 million harvested acres, USDA pegged this year’s U.S. soybean production at 4.381 billion bushels (119.24 MMT). That would be the third consecutive record crop and the fourth in a row over 100 MT. Among USD...
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.