Argentine Soybean Crop Forecast Drops In its 23 February issue, Oil World reduced its forecast for Argentina’s 2018 soybean crop to 43 MMT or less. However, it indicated that this could fall as low as 40 MMT if needed rainfall does not occur in the next seven to 10 days. This is the lowest estimate released thus far. Weather forecasters are expecting some rainfall over parts of Argentina this week. Specifically, a spokesperson for Argentina’s Applied Climatology, a consulting firm, yesterday predicted about 15 millimeters (0.59 inches) of rain are likely to fall today and tomorrow in the provinces of Cordoba, Santa Fe, Entre Rios and northern Buenos Aires. However, the rainfall is not guaranteed, and such a small amount is unl...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.