At the start of trading today (January 9) on the Chicago Board of Trade, a bushel of corn was going for US$6.88, while wheat was at US$7.52 a bushel and soybeans, US$13.85 a bushel, according to Agriculture.com. While these prices have moderated somewhat from last fall's all-time highs, they still present challenges for the food industry and for petfood producers looking to obtain the ingredients they need at prices their budgets can accommodate.
The sky-high prices from last year were precipitated by the terrible drought in the US Midwest, which wreaked havoc on all sorts of crops. Yet many experts predicted then that the worst effects from the drought might not hit until this year. Were they right?
You can find out what one expert thinks now that the new year is here. Tim Brusnahan, vice president of consulting for Brock & Associates, will analyze the US Department of Agiculture's (USDA) January 11 crop reports in a webinar on January 22 at 10 am central US time. In the webinar, hosted by WattAgNet.com, Brusnahan will apply his considerable expertise to sorting through this latest USDA data and highlighting information to help you plan your purchasing and formulations accordingly.
For example, the webinar will cover supply and demand for not only the US but also Latin America, as well as include Brusnahan's observations on whether US crop production will return to a trend line yield in 2013. The webinar will be moderated by Ken Jennison, editor of Feed Management and Feed International magazines.
If you have any responsibility for (or interest in) formulating with or purchasing commodity grain ingredients, this webinar might provide valuable insights. And remember, the prices and supplies of grain ingredients have a direct impact on meat prices, too.
You need to register to participate in the webinar; registration is free and allows you to access a recorded archive of the webinar after the live event.