Interestingly, as the import window into the U.S. appears to be closing, the Brazilian Sugarcane Industry Association (UNICA) is reporting that domestic ethanol sales have hit an all-time high with an increase of almost 23.5 percent compared with last year.The U.S. Energy Information Administration (EIA) is reporting that ethanol production is up again this week to 939,000 barrels per day. This is almost 5 percent higher than last week and enough to account for more than 98 million bushels of corn on the week, an average pace slightly above USDA's projected five billion bushels on the year. However, most mills are approaching scheduled downtime for maintenance, which could lower the next few weeks' production numbers.Imports are down from l...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
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.