The overnight session found corn and wheat trading both sides of yesterday's closes, while soybeans were mostly firmer. That is the way the day session opened as well. General Comments With USDA's next WASDE containing fresh yield and production estimates for corn and soybeans due for release on 11 September, the usual private estimates have begun to roll in. FC Stone is usually the first of these widely watched forecasts. Not surprisingly, its September estimates released late yesterday fall below USDA's August numbers. FC Stone puts soybean production at 3.791 billion bushels from a national average yield of 45.4 bushels/acre. Those numbers are 1.5 bushels/acre and 125 million bushels below USDA's. It pegs the corn yield at 165.9 bushel...
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...
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.