USDA Notes: The first 2019 NASS survey-based winter wheat production forecast indicated larger Hard Red Winter production more than offsetting smaller Soft Red Winter and White Wheat crops. Total 2019/20 domestic use is projected up 5 percent with increases in all usage categories. Exports are projected at 900 million bushels, down 25 million from the revised 2018/19 exports. The 2019/20 global export situation is expected to be highly competitive for the United States with all of the other major exporters projected to have larger supplies. Ending stocks for 2019/20 are projected 14 million bushels higher than last year at 1,141 million. The projected season-average farm price is $4.70 per bushel, down from las...
What You Need to Know Today: Traders are increasingly focused on next Wednesday’s August WASDE report, with corn and soybean yield estimates expected to drive the next major move in grain markets. Recent crop condition declines and late-July heat have increased uncertainty around USDA&rs...
Yesterday the Senate Agriculture Committee held its markup of the “skinny” farm bill, and it was derailed over Democratic opposition to plans for imposing food stamp costs on state governments. The Democrats pushed back on a provision that required states to pick up a larger share o...
Key Takeaways: WPI’s 2025/26 corn export models continue to reflect strong international demand and put the total marketing year volume slightly above USDA’s estimates. Strong old crop corn exports are offset by weaker feed and residual use, leaving ending stocks slightly ele...
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.