While the October 2016 WASDE contained no fundamental surprises, it did not lack for items of interest.As noted yesterday, the October 2016 WASDE contained no fundamental surprises. This is mainly because private crop scouts and analysts did a very good job of assessing yield and production prospects, and the consensus of their conclusions prior to the report proved to be very close to those of USDA/NASS analysts. Thus, the report was unusually dull in a market sense - if USDA corn and soybean yield and production estimates in the midst of harvest can be said to be dull. Put another way, there was nothing in the October WASDE that is likely to jar corn, soy and wheat futures markets out of their months-long trading ranges in the short term...
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.