WHEAT The Argentine wheat harvest advanced 3.8 percentage points this week, bringing total progress to 20 percent of the area. Yields continued to perform well, and given tight margins after recent price declines, most harvested volumes exceeded breakeven levels. In the core production region, breakeven on rented land was roughly 5 MT/ha. Quality remained the key focus. Producers who applied lower fertilizer rates and achieved high yields generally reported weaker quality, while those who fertilized aggressively obtained both strong yields and acceptable protein levels. Exporters typically pay growers 95–97.5 percent of the agreed price within 48 hours and settle the balance at 30 days after accounting for discounts. This week, severa...
What You Need to Know Today: Non-farm payrolls rose by 172,000 jobs in May, above economist expectations of 80,000 jobs. With the job market strong, the Fed may consider raising interest rates to tame inflation. The strong jobs report was a catalyst for lower risk appetite across financial and...
What You Need to Know Today: A case of New World Screwworm was detected in Texas, the first in the U.S. since 1966. With cases creeping closer to the U.S. border, it was only a matter of time. APHIS confirmed that larvae were detected in the umbilical area of a 3-week-old calf in Zavala County...
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.