Tuesday’s CBOT trade was all about declining crop conditions and crop tour yield estimates. Both were supportive factors, which sent corn 4+ percent higher by the close and soybeans up nearly 2 percent by the day’s end. The ProFarmer tour finished up its assessment of corn yields in the western Corn Belt, notably South Dakota and Nebraska, where heat and dryness pared production potential significantly. That elicited a positive response from the corn market and funds jumped onto the long side of the trade. Soybeans lacked the same fundamental impetus but rallied on a hotter, drier forecast for the U.S. this week and next, along with persistent bull spreading and physical demand. Outside markets were mixed with U.S. stocks...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.