The continued sale for export of so many of last year's soybeans increasingly suggests the 2013 U.S. soybean crop was larger than USDA is estimating. Big Soybean Sale to Unknown Buyers USDA caused a bit of commotion today in the soybean market when it announced the sale of 568,000 MT (20.87 million bushels) of soybeans to unknown buyers for shipment in MY 2013/14. The trade initially discounted the sale by assuming it was for shipment in 2014/15 or a cancellation for China erroneously reported as a sale. However, USDA later told reporters the exporter reporting the sale had been contacted and re-affirmed that it was indeed a sale for shipment in 2013/14. If the sale announcement indeed is correct, then the logical buyer is China. However,...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.