Corn Argentina’s corn harvest continues to move at a slow pace as producers are still focused on harvesting soybeans and the corn still has high moisture levels. Weekly progress was reported at 0.4 percent of the area, which brings the total harvest to 25 percent completion. The harvest so far totals 12 MMT. On the commercial side, the government increased the corn exportable balance for the 2021/22 season by 5 MMT to a total of 30 MMT. At the same time, the government authorized affidavits for corn export sales of 10 MMT for the 2022/23 season. The extension of the quota for MY 2021/22 comes just as exporters were competing with local purchases for the previously authorized quota. The FAS market traded an atypical week...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.