Having become confident that it has a good handle on total U.S. corn supplies for 2016/17, the market has already begun to switch its focus to the next two potential market-moving factors.According to USDA, some 61 percent of the huge U.S. 2016/17 corn crop was harvested as of 23 October, which is about in line with the five-year average. Except for some rain predicted for the Corn Belt later this week, the weather outlook calls for mostly dry, warm conditions until mid-November that should allow the corn harvest to easily wrap up. Essentially, weather conditions during the harvest have been about as favorable as they were through much of the growing season.USDA/NASS’s October estimate of the U.S. 2016/17 corn production is 15.057 billion b...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.