The February WASDE report generally is not a market-maker, and today was no exception. The trade again was braced for a bearish report, especially in corn and wheat, in anticipation of USDA increasing corn and wheat ending supplies. The increase in corn ending supplies was not as large as expected and wheat ending supplies actually declined. The U.S. soybean sending supply number also declined. The tables below show a comparison of the today's numbers against pre-report expectations and the January numbers.Corn: The market was prepared to see both the ethanol and the export estimates dropped today. They were half right with ethanol staying unchanged and the export forecast reduced by 50 million bushels. USDA did increase the feed use cate...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.