The U.S. sorghum crop is the world's largest and this year's output is suffering from overly dry conditions. USDA's crop condition rating is 53 percent good/excellent, 10 points below the five-year average of 63 percent and could signal a smaller harvest. Sorghum is a useful crop, serving both as an animal feed but also for food purposes. U.S. sorghum producers historically felt like the stepchild to King Corn, with the latter having higher total yield per acre and previously a more generous government subsidy plan. It was favored for growth in more arid places such as the Southern Plains down into Texas due to its lower water requirements. Africa was a major export market where it was used for food and making beer. Glob...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
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.