Argentina's government acted yesterday to assist the domestic biodiesel industry in offsetting losses in exports to Europe after the EU imposed punitive anti-dumping duties on imports of Argentine biodiesel. Larger Canola Crops Predicted in Canada and Australia Market analysts in Canada expect Statistics Canada to raise its forecast for the 2013 Canadian canola crop by 1 MMT in its monthly forecasts tomorrow. The average canola production forecast of twenty traders and analysts surveyed by Reuters was 16.9 MMT with a range of 16.2–17.9 MMT. Statscan's October projection was for a crop of 15.963 MMT versus production in 2012 of 13.87 MMT. If realized, the analysts' average forecast of 16.9 MMT would be a record and likely will result in Ca...
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.