The CBOT was mostly higher heading into the WASDE as funds were cautiously covering shorts and paring back risk before the holidays. The WASDE proved to be slightly bullish corn and mostly neutral soybeans and wheat, proving the short-covering trend to have been a good idea. Aside from the WASDE, there was little fresh news for the commodity markets and with the report now past, commodity markets are likely to enter their seasonal holiday lull while keeping a close eye on export demand, which is the major factor driving price action right now. The major theme from the WASDE was for tighter U.S. and global corn stocks on rising demand, and a mostly steady scenario for the wheat market. USDA raised the demand outlook for U.S. wheat exports an...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.