The Chinese government's refusal to approve the two new biotech soybean events was known to U.S. soybean growers and officials in the biotech industry at least a few weeks before it was reported last week. While it is not clear exactly why the government is all of a sudden taking this action, there are a few likely reasons. USDA Sharply Reduces Soybean Stocks, Increases 2013 Soybean Production USDA today surprised the market by reducing U.S. soybean ending stocks on 1 September to only 91.96 million bushels (2.53 MMT). That was well below average trade estimates of 126 million bushels (3.43 MMT) and USDA's September forecast of 130 million bushels (3.54 MMT). It was also substantially below last year's September stocks of 140.557 million...
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.