USDA’s outlook for 2021/22 U.S. corn is for a modest reduction in beginning stocks because of ethanol and export demand. The forecast season-average farm price is unchanged at $5.70 per bushel. This month’s 2021/22 foreign coarse grain outlook is for greater production, marginally higher trade, and larger ending stocks relative to last month. Brazil corn production for 2020/21 is reduced on lower yield expectations for second-crop corn. However, Brazil's corn crop is far from decimated - please see the attached balance sheet of Brazilian corn production. ...
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.