There were no major surprises in USDA’s May WASDE report, but there was enough to push up the volume in trading. Larger production and ending stocks are the result of higher prices in recent years. Those will be coming down. USDA’s forecast for global wheat ending stocks was 1.8 percent higher than expected, but the trade focused on a total U.S. wheat crop that is smaller than expected, and a drop in global wheat ending stocks. Similarly, its global corn ending stock number was 1.76 percent more than the trade estimated, but corn traded the rest of the session on both sides of unchanged. Despite Brazil’s large corn crop, USDA sees a healthy increase in U.S. corn exports based on sizeable production and a shar...
From WPI Consulting
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.