USDA yesterday officially declared that the long bull market in corn is finished. It did so by increasing old crop supplies by 50 million bushels and deciding on 10 May that the U.S. corn yield will set an all-time record of 166 bushels per acre. The path to this declaration was established back in the April WASDE, when USDA did not reduce old crop ending supplies despite a smaller-than-expected 1 March quarter corn stocks number. That number can't be verified until the 1 June quarterly stocks number is released on 29 June. There will be too much water under the bridge by that point for the 1 June number to make much difference unless weather between now and then has changed and the market believes the 166-bushel yield projection is threa...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.