The Pro Farmer Midwest Crop Tour kicks off this week, and already there are reports of the analysts finding problems in the fields with immaturity, of course, being one of them. They cite dry soils, inconsistencies across fields, disease and a preliminary average corn yield of 151.50 bushels/acre (BPA) in Ohio. That is 8.5 bushels below USDA’s August WASDE estimate of 160 BPA for the state. In South Dakota, the tour’s predicted corn yield for just the southeast corner of the state is 151 BPA versus a USDA statewide forecast of 157 BPA. The crop tour can impact the futures market, particularly when there is little other news to influence it. However, that raises questions about the tour’s accuracy. It has become much more...
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: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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
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.