Yesterday’s USDA report indicates that U.S soybean exporters and processors are going to have a large supply to work with in the year ahead, and one particular forecast could make that challenging if it is realized. 12 October USDA Reports’ Soy Sector Highlights Crop ProductionYesterday’s USDA crop production report was significant in that the forecast for the average U.S. soybean yield was raised by 0.8 bushels/ acre to 51.4 bushels/acre, another record high, with estimated production now at a record 4.269 billion bushels (116.19 MMT).Most significant was the increase in the average yield in Illinois from 60 bushels/acre to 61 bushels/acre and in Nebraska from 59 bushels/acre to 61 bushels/acre. Yields were also raised in Georgia, Illino...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.