USDA’s outlook for the new 2021/22 U.S. wheat crop is for higher production. All wheat yield is 50.7 bushels per acre, up 0.7 bushels from last month. Feed and residual use is raised 10 million bushels to 180 million on the higher supplies as wheat is expected to be priced competitively with corn in the summer months. The projected 2021/22 season-average farm price is unchanged at $6.50 per bushel. The global wheat outlook for 2021/22 is for larger stocks. World production is projected at a record 794.4 million. Projected 2021/22 world ending stocks are raised 1.8 million tons to 296.8 million with China accounting for 48 percent of the total. ...
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.