World Perspectives
biofuel feed-grains

April Ethanol Corn Crush; June Estimated Forecast

In a sign of the times, corn crushed for ethanol in April, during the peak of the COVID-19 lockdown, was down more than 44 percent from April 2019, while corn crushed for alcoholic beverages was up 12 percent from April 2019 according to USDA’s Grain Crushing and Co-Production report released yesterday.     Based on the April numbers, WPI estimates that June corn use for ethanol could rebound to 310 million bushels for dry mill ethanol production and 45 million bushels for wet mill production, which would equate to about 1.46 MMT of DDGS production. That DDGS production would be about 80 percent of last April. Dry mill production of DDGS was 1.01 MMT during April 2020, down 62 percent of March 2020 and down 55 perce...

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China is Officially a Presidential Campaign Issue

Both President Trump and Democratic nominee former Vice President Joe Biden have set their rhetorical sights on China policy as the 2020 Presidential campaign heats up. The Biden campaign unveiled its latest economic blueprint, a plan to “Ensure the Future is Made in all of America by All...

Blame Democracy; Meat Cancel Culture; Quotable

Blame Democracy Economists Massimo Pulejo and Pablo Querubín of New York University basically conclude that elections made the coronavirus outbreak worse. The authors (NBER Working Paper No. 27498) compared countries based on the proximity or timing of elections and the stringency of loc...

feed-grains

New Corn Strategy

Economists at FarmDocDaily point out in an article entitled, “World Market Conditions Suggest Set-Asides Not an Effective Farm Policy for Corn and Soybeans” that U.S. farmers have been losing market world share to South America. They correctly note that the current discussion about...

China is Officially a Presidential Campaign Issue

Both President Trump and Democratic nominee former Vice President Joe Biden have set their rhetorical sights on China policy as the 2020 Presidential campaign heats up. The Biden campaign unveiled its latest economic blueprint, a plan to “Ensure the Future is Made in all of America by All...

Blame Democracy; Meat Cancel Culture; Quotable

Blame Democracy Economists Massimo Pulejo and Pablo Querubín of New York University basically conclude that elections made the coronavirus outbreak worse. The authors (NBER Working Paper No. 27498) compared countries based on the proximity or timing of elections and the stringency of loc...

feed-grains

New Corn Strategy

Economists at FarmDocDaily point out in an article entitled, “World Market Conditions Suggest Set-Asides Not an Effective Farm Policy for Corn and Soybeans” that U.S. farmers have been losing market world share to South America. They correctly note that the current discussion about...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.365/bushel, down $0.0825 from yesterday's close.  Sep 20 Wheat closed at $5.2475/bushel, down $0.0925 from yesterday's close.  Nov 20 Soybeans closed at $8.7525/bushel, down $0.155 from yesterday's close.  Dec 20 Soymeal closed at $291.7/short ton, down $...

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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.

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