General Comments Overnight price action for grains and soybeans was mostly higher in light-to-moderate volume in response to even higher old crop cash basis bids, especially for corn. Corn premiums were firmer everywhere, but particularly in Iowa and Illinois where bumps of up to 7-8 cents were reported. Decatur was reportedly paying 62 cents over late Monday. There has been precious little export business for U.S. corn, but there has been difficulty in covering some of what has been previously done. Gulf corn was bid at a record high $1.25 over after yesterday's futures close.The early boost to corn futures prices meant that flat price old crop corn bids in various locations in the Midwest hit close to $7.25. This brought on a spurt of...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.