USDA Reports: The outlook for 2019/20 U.S. wheat this month is for smaller supplies, reduced total use, and rising ending stocks. Wheat production is cut 18.5 million bushels to 1,962 million based on the NASS Small Grains Summary, issued on September 30. Projected imports are lowered 15 million bushels to 120 million on a slow pace to date. The NASS Grain Stocks report raised 2018/19 ending stocks 8 million bushels and estimated first quarter 2019/20 stocks at 2,385 million bushels, down fractionally from the previous year. These stocks imply first quarter feed and residual use is similar to last year. Annual 2019/20 feed and residual use is lowered 30 million bushels to 140 million but remain above last...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reaching record net-long positions in September. Fundamental concerns surrounding yields, supplies, and global availability have helped justify the...
Under an Executive Order on 4 September, USDA announced $50 million in new funding to help states establish or expand meat and poultry inspection programs as part of an effort to increase processing options for livestock producers. It’s called the Stand-Up Program, which will help states...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.