General Comments Note: As a result of the government shutdown, most, if not all, of USDA's regular reports will be suspended until the shutdown ends. This includes Thursday's regular weekly export sales report and weekly crop and harvest progress reports. The scheduled October WASDE on 11 October remains in question.International FC Stone released its October production estimates late yesterday. It raised its previous soybean yield estimate .2 bushels/acre to 41.4 bushels/acre and put soybean production at near 3.15 billion bushels. We reckon that trade consensus is building toward a slightly larger yield based on optimistic reports from producers. A yield of 42 bushels/acre is becoming a popular number. Stone's corn yield is a very ge...
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.