Errata: The original version of this article incorrectly state the January 2018 soybean yield estimate at 50.6 BPA, instead of the true February (which made up for the delayed January report) estimate of 51.6 BPA. All statistics related to this yield estimate and charts/tables have been corrected below. USDA surprised the commodity markets on Friday with bullish adjustments to the U.S. corn and soybean balance sheets, particularly the unexpected reductions in yields for both commodities. The surprise created by the latest balance sheet makes it worthwhile to evaluate the USDA’s adjusted estimates relative to historical patterns. For this analysis, WPI uses the USDA’s yield, harvested acreage, and production forecasts as published in th...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.