The Indonesian government's director general of food crops indicates that imposition of a 10 percent tariff on soybeans is being considered as a way to encourage local production and boost self-sufficiency. Indian Soybean Crop Forecast to Decline 15.3 Percent The president of the central Organization for Oil Industry and Trade of India yesterday predicted that the country’s 2015 soybean crop will decline 15.3 percent to only 7.2 MMT. If realized, that would be India’s smallest soybean crop since 2005 when it produced 7 MMT. USDA currently is forecasting the crop at 11 MMT, but it is expected to sharply reduce that in the November WASDE. It estimates last year’s Indian soybean crop totaled 9 MMT. However, it appears Indian officials believ...
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.