Ethanol exports are on track to set a record in 2018 and will likely top 1.6 billion gallons, approximately 10 percent of all production. However, robust sales have not been able to hold off the building of stocks due to the pace of production. Those stocks reached 23,514 barrels for the week ending 9 November, a total that was 109.4 percent of the same week last year. For the year to date, weekly ending stocks have averaged 103 percent of the same period in 2017. As for production, the latest data from the U.S. Energy Information Administration (EIA) indicates a daily average of 1.067 million barrels for the week ending 9 November, a pace that would equate to 16.35 billion gallons. That puts production at 101.2 percent of last year over t...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
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.