The CBOT was mixed for the day with wheat futures sinking lower after the HRW and SRW growing regions received favorable rains Wednesday and early Thursday. That, combined with export pressure from Russia and the Black Sea countries, put wheat on the defensive with funds emerging as net sellers again. The pressure in wheat spilled over into corn and pushed the spot December contract lower, though bear spreading lifted deferred markets. Strong export sales and a rally in soyoil sent the soybean market higher, though the charts still look bearish. The markets are now largely focused on export trends and prices, weather for the Northern Hemisphere winter wheat crops, and rains in Argentina and Brazil. Seasonally, futures are approaching t...
What You Need to Know Today: Day three of the Pro Farmer Crop Tour found corn yield potential below last year in both Illinois and western Iowa. Illinois corn yields averaged 184.2 bushels/acre, down from 199.6 bushels/acre last year and the 199.2 bushels/acre three-year average, while wester...
The USDA’s Foreign Agricultural Service (FAS) projects China’s chicken imports to drop by 33 percent this year and another 15 percent next year, as domestic production outpaces growing consumption and the country’s own exports surge. In its annual report on the Chinese poultry...
Key Takeaways: $13 billion in new U.S. dairy processing investment is moving across the sector, led by cheese ($3.2 billion), milk and cream ($2.9 billion), and yogurt and cultured dairy ($2.8 billion), with butter-powder capacity ($1.6 billion) and ice cream ($530 million) rounding out the bu...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.