USDA's total U.S. wheat production estimate came in below what the trade was expecting. We also note that USDA's hard red winter wheat production estimate is, in our opinion, too large by 50+ million bushels.The tables below reflect today's USDA reports with comparisons to previous reports as well as the average trade estimates for today's numbers, which really had no significant surprises.Wheat: USDA's total U.S. wheat production estimate came in below what the trade was expecting at 1.963 billion bushels. The winter wheat production estimate came in at 1.402 billion bushels, which was about 68 million bushels below the average trade guess. We note that USDA's hard red winter wheat production estimate of 746 million bushels is, in our opin...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.