GOOD MORNING, Prices are higher as more reports of a devastated wheat crop in North Dakota roll in. Extreme heat in the Northern Plains and in the Midwest will cause serious damage to crops already stressed. The tour estimated yields at a woefully low 24.6 bps on the second day of the 3-day Wheat Quality Council tour, vs. 40.8 bpa in 2019, and vs. the 5-year average of 42.4 bps. The drought extends into South Dakota, Montana, and portions of Canada. Matif wheat futures traded to a 2-month high. The other feature of the morning continues to be that of higher oilshare. There are more reports circulating now about African Swine Fever confirmed in Dominican Republic pigs, which is the first sign of th...
What You Need to Know Today: American and Mexican officials met Tuesday and will meet again Wednesday for another round of trade talks, where ag and energy will be a key topic. Another round is scheduled for 20 July. Ag groups are urging President Trump to renew USMCA for another 16 years, but...
Since the first U.S. case of New World Screwworm (NWS) was confirmed on 3 June, USDA has confirmed 12 cases. The latest was confirmed in a sheep on 12 June, with four additional cases confirmed in Texas on 11 June, three in cattle and one in a goat. The New Mexico case confirmed that the infect...
Key Takeaways: China has invested heavily in the Port of Chancay to strengthen trade links between South America and Asia. The port could reduce shipping times to China by up to two weeks and improve export competitiveness. Inland transportation infrastructure remains the primary obstacle to r...
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.