U.S. corn ending stocks for the current 2012/13 season (ending 31 August) were 729 million bushels. This figure was a reduction below USDA's June estimate of 769 million bushels, but above the average trade guess of 722. (The ending stocks of this season seem to already be factored into the July 2013 corn contract price, which expires tomorrow.)That reduced corn ending stocks number for 2012/13 became a reduced beginning stocks number for the 2013/14 season. A slight reduction in harvested acres reduced total corn production next season by 55 million bushels. Combine that reduction with the 40 million bushel decrease in beginning stocks, and both were still more than offset by a 50 million bushel reduction in exports and another 50...
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
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.