Soybeans: Big crops in South America The last soybean campaign in South America was very disappointing. In November 2011, everyone was predicting production to be about 72 MMT in Brazil, 53 MMT in Argentina, 7.5 MMT in Paraguay and 2.2 MMT in Uruguay. However, by December 2011 crops began to shrink because of the drought that affected those countries. Brazil's soybean crop was lowered to 66 MMT, as per Conab, down about 10 percent from original estimates. Paraguay's crop was reduced to 4 MMT, about a 47 percent reduction. Argentina's fell to 40 MMT, a 25 percent reduction. The only country that met and even surpassed its estimated production level was Uruguay, finishing with 2.4 MMT of soybeans. Uruguay was lucky enough to catch most of...
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.