The 2017 spring wheat tour was held this week with the results released yesterday, but it overlooked two key elements.The 2017 spring wheat tour was held this week with the results released yesterday. It estimated the average yield at 38.1 bushels/acre, a drop from last year’s 45.7 bushels/acre as well as the five-year tour average of 46.8 bushels/acre and the smallest spring wheat yield estimate since 2008.The problem with the tour this year is that it basically missed the critically drought-impacted areas of central and western South Dakota, western North Dakota and Montana. It also didn’t attempt to guess how many acres will potentially be abandoned. Not only will those be abnormally high in the dry areas, yields on the acres that have b...
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.