Three countries are expected to reduce their soybean planted areas in favor of other crops, but another is forecast to increase its production of the oilseed. Argentina Reduces Estimate of 2017 Soybean Crop Argentina’s Ministry of Agriculture last week lowered its estimate for the 2017 soybean crop from 57 MMT to 55 MMT. This was based on a larger planted corn area at the expense of that planted to soybeans. USDA currently is estimating the Argentine soybean crop at 57.8 MMT. The ministry estimates Argentina produced 49.5 MMT of corn in 2017, up from its earlier forecast of 47.5 MMT.The move to a smaller soybean area and greater corn area is not surprising. Farmers had a substantial incentive to plant this way after President Macri elimi...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.