There is always some tension in the transition between the old soybean crop year and the new one. The time gap between the statistical end of the old crop year and the actual availability of new crop soybeans seems to make this inevitable.U.S. soybean supplies for the 2013/14 crop year, which ends 31 August, have been and still are very tight as USDA's monthly supply/demand estimates have testified from the beginning. This has been due to very small carry in stocks from the 2012/13 drought year, a less than stellar 2014 soybean crop and demand from exporters and soy processors that has far exceeded early expectations. However, the U.S. soybean supply demand situation in 2013/14 has not been nearly as explosive as in 2012/13 when cash basis...
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.