USDA's eagerly awaited September WASDE was greeted happily by corn market bears and soybean market bulls. USDA reduced the 2012/13 average corn yield from 123.4 bushels per acre in August to 122.8 bushels per acre in September. Leaving harvested acres unchanged at 87.4 million, estimated 2012/13 U.S. corn production fell just 52 million bushels to 10.727 billion bushels. The reductions in the corn yield and total production were far smaller than expected. Average trade expectations had been for a yield around 120.5 bushels per acre and production between 10.4-10.5 billion bushels. Thus, the trade was more than 2 bushels per acre and nearly 300 million bushels lower than USDA. Given the advanced maturity of the corn crop and the record ear...
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
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.