USDA will revise winter wheat yields and, perhaps, harvested acres.Some downward adjustments in the world wheat crop are also possible with a great deal of ongoing chatter about dryness in several wheat-producing countries/regions.The monthly WASDE will be released at noon (EDT) Wednesday. There could be changes to acreage and yield estimates, but we doubt any will be made to those of corn and soybeans. It is too early for yield estimate adjustments, and USDA will release its latest acreage numbers on 30 June. Thus, any changes in planted acres will be reflected in the July reports.USDA will revise winter wheat yields and, possibly, harvested acres. The table below indicates that analysts aren't expecting any major changes this week. The wi...
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.