GOOD MORNING, The USDA report sent prices sharply higher yesterday and the market will need a few days to digest the numbers. Charts did a sharp U-turn from Tuesday morning lows with recent shorts covering on the back of bullish numbers. New money was noted coming into December corn and November beans, setting off outside days closing higher which typically finds follow-through, as it is this morning. The worries over drought in the western states are magnified given the lower total acreage numbers. Western states account for around 23% of bean acreage and almost 20% of corn. Bottom line is that the US needs good weather for July and August with near or above beginning trendline yields. While we may get...
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 €...
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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.