USDA’s outlook for 2019/20 U.S. wheat is for stable supplies, increased feed and residual use, and lower stocks. Ending stocks are now projected at 965 million bushels, down 9 million from the previous report. The season-average farm price is unchanged at $4.55 per bushel. Foreign wheat production for the 2019/20 market year is dropped 1.0 million tons. A 1.0-million-ton reduction for Russia on updated government production data and a 0.5-million-ton decrease for Australia reflecting the severe drought conditions in parts of the country. Partly offsetting is a 0.5-million-ton increase for the European Union. Foreign ending stocks are lowered 1.2 million tons to 261.8 million. ...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.