Rumor of Export Tax Increases in Argentina Escalates Sales Registrations There was a rumor last week in Argentina that the government would soon announce an increase in export taxes on agricultural commodities that includes boosting the rate from 8 percent to 10 percent for grains and from 18 percent to 30 percent for soybeans/soy products. This caused exporters to frantically register a great number of sales to avoid the possible higher rate. AgriCensus reported that they registered sales last Thursday and Friday for 1.98 MMT of soybeans, 540,347 MT of wheat and 420,147 MT of corn, which represent about six weeks of the normal volume. Government officials claim there are no plans to raise export tax rates, but the trade seems to believe...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.