The USDA report has come and gone, and prices will respond to weather and crop conditions. So far, those conditions have been excellent, with corn and bean ratings very high. In a recap, some highlights from the report: Corn: 2019/20 production was lowered by 45 mln bu to 13.6 bln bu, with harvested area lower by .1 mil acres and yield by .4 bpa to 167.4 bpa from the re-survey of North Dakota. Ethanol was an expected negative with 19/20 lowered by 50 mln bu to 4,900 mln bu., but could be the lowest number seen for 19/20. Old crop carry-out was raised by only 5 mln bu to 2103 mln bu, 50 mln bu below expectations. World carryout at 312.9 mmt was below expectations. 20/21 carryout was higher by...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.