USDA reduced their estimate for U.S. soybean ending stocks to 245 million bushels, down 55 million from last month. The first survey-based soybean yield forecast of 50.9 bushels per acre is reduced 1.1 bushels from last month. The U.S. season-average soybean price for 2023/24 is forecast at $12.70 per bushel, up $0.30 from last month. The soybean meal price is forecast at $380 per short ton, up 5 dollars. The soybean oil price forecast is 62 cents per pound, up 2 cents. Global soybean exports are reduced 0.5 million tons to 168.8 million on lower U.S. exports, but the 2023/24 foreign oilseed supply estimate is for higher ending stocks: Foreign oilseed production is nearly unchanged at 539.7 million tons as higher sunflower and peanut...
The Senate Agriculture Committee will take up the farm bill next week, and a number of amendments targeting the meat industry are expected to be offered. Two of the most potentially damaging are the Schumer amendment, based on his bill, the Family Grocery and Farmer Relief Act, and mandatory co...
Oliver Goldsmith's The Deserted Village, published in 1770, is of a timeless quality. It is a 425-line lament for a disappearing rural world, where prosperous villages give way to larger estates, fewer farmers, and emigration. One passage even follows those leaving for the new colony of Georgia...
The industry has spent two years bracing for GLP-1 medications to hollow out demand, but the data so far tells a more interesting story. Roughly one in eight adults currently uses a GLP-1, and an additional 29 percent of non-users say they would consider it if it became more accessible and cost...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.