GOOD MORNING, Prices are lower as a good amount of rain fell across portions of the Midwest recharging soil moisture. The June 30 Stocks/Acreage report will be released at 11:00 central time, with expectations that we are going to see large acreage numbers. Given the recent down-turn in price, one has to wonder how many of those acres are now factored into current prices? Pro Farmer estimated US corn acres close to 93.6 mln acres, 2-3 mln acres less than the highest guess, and estimated 2021 wheat spring acres near 11.3 mln. Overall demand for US beans and corn remains quiet, though it was confirmed by two traders that China purchased 8 cargoes of US beans on the break. Over the weekend, Egypt tendered...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.