U.S. domestic corn exports are lowered 75 million bushels due to slow sales. As a result, corn ending stocks are raised 75 million bushels. The season-average corn price received by producers is lowered 10 cents to $6.70 per bushel based on observed prices to date. Foreign corn production is reduced with forecast declines for Ukraine, Russia, the EU, and Vietnam. Ukraine corn production is sharply lower with reductions to both area and yield as the ongoing conflict. Russia corn production is lowered as harvest delays in the country reduce area expectations. (Note: USDA increased Australian barley production due to the most recent crop report from ABARES. Argentina barley production is cut on continued dr...
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.