Soybeans clearly surpass every other cropping choice based on current new crop prices, but there are many so-called minor crops that will also be impacted by the unexpected and lasting strength in soybean prices.Soybeans clearly surpass every other cropping choice based on current new crop prices and assuming good (but not record) yields. However, there are many so-called minor crops that will also be impacted by the unexpected and lasting strength in soybean prices. Following are comments on some of them. Barley This has been relegated to a minor crop over the past 10-15 years as the shorter season hybrid varieties of corn and soybeans have pushed it out of the rotation for many, if not most, northern Plains farmers. The North Dakota Sta...
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...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.