Some are raising concerns that cooler temperatures and excess late season rain have caused quality problems for the typically high protein/strong gluten spring wheat crop. There is the threat that the lower quality wheat will end up being delivered against futures contracts and is causing falling prices in Minneapolis. That concern has not been reflected thus far in USDA’s weekly Crop Progress report. The share of the hard red spring wheat crop rated Good/Excellent fell from 74 percent at the beginning of August to 72 percent last week. That is still well above the average of the past ten years, and strikingly better than the 2021 and 2023 HRS crops at this time of the season. Thus far in August, the December HRS contract has f...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
Key Takeaways: Grain futures pulled back sharply in overnight trade Friday on rumors that Ukraine proposed two possible options for ensuring civilian vessel safety in the Black Sea. Both Russia and Ukraine have recently targeted civilian vessels carrying oil and grain in the Sea of Azov...
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.