Bears were solidly in control of trade at the CBOT on Monday with mostly favorable U.S. weather forecasts and expectations of a bearish July WASDE report driving price action. Grain and oilseed markets were lower overnight with Matif wheat futures leading the CBOT and KCBT into the red in early trade, and it was a one-way trip to Bearstown after the markets opened for the morning. Corn and wheat scored a 3+ percent decline while a pullback in soyoil sent new crop soybeans to a 2.7 percent drop. The day’s trade likely set the tone for the week, though further losses may be mitigated by pre-WASDE positioning and spread trade. Markets are starting to prepare for the USDA’s July WASDE that will come out on Friday, 11 July and is ex...
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.