The wheat markets are quiet with not much business reported for new crop since they heated up two weeks ago. Wheat with 11.5 percent protein rose to the mid-$180s/MT for December-February shipment, but two factors have pressured prices this week. Soybeans Brazil Brazilian basis levels have been gradually dropping after last week’s CBOT rally. The rally was great news for Brazilian farmers who have been selling fairly good volumes of old and new crop soybeans each day since it started. Selling has been heavier in the new crop and has forced that basis downward, which is turning out to be an interesting level for some trading houses to take a position. Sellers were offering February at $0.53H, March at $0.42H and April/May $0.33-0.34K, all...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
Mediterranean/Middle East/North Africa/Africa – MEA Region Egypt’s Ministry of Supply reports that it will begin the sale of imported wheat through the Egyptian Mercantile Exchange. Sales are expected to be mainly to private-sector flour mills and are intended to stabilize wheat and...
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.