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: 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.