USDA will release its updated U.S. and world production estimates at 12 p.m. (EDT) Thursday. Those for U.S. corn and soybeans will be larger than in the previous month’s report if for no other reason than USDA will increase planted acreage numbers to match the June planting estimates. Here’s how we see the report. Corn - The June planting estimates showed 1.1 million more acres than reflected in the March planting intentions estimate. That would increase production by about 174 million bushels if USDA doesn’t boost the yield estimate from June’s 174 bushels/acre, which is already the second-highest ever. There are some analysts who believe that estimate will be higher because the weekly ratings have been so good. Ho...
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
President Trump has opened the door to 100,000 MT of beef lean trimmings (limited to HTS codes 0201.30.5091, 0201.30.5097, 0202.30.5091, and 0202.30.5097) from countries listed under the “Other Countries” TRQ effective 1 September. These imports would not be subject to the over-quot...
Key Takeaways: CHS and OCP plan to invest up to $450 million in a Louisiana phosphate fertilizer facility capable of producing more than 1 MMT annually, marking the first new U.S. plant of its kind in more than 40 years. The facility could reduce U.S. dependence on imported finished phosphate...
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.