General Comments Stats Canada's updated estimates on planted area as of 10 June were released today. They are as follows stated in millions of acres:Stats Canada's updated acreage estimates provided no surprises. Canola acreage increased 600,000 acres from the March estimate while wheat acreage declined more than 500,000 acres which is pretty much what was expected. Other changes were relatively small. All wheat acreage increased by almost 2.4 million acres over 2012, but canola planting fell about 1.8 million acres below 2012 levels. With the acreage report largely expected, it seemed to have only limited market impact. New crop ICE canola futures traded lower in Winnipeg, but this was attributed as much to forecasts for beneficial crop...
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...
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.