China's Ministry of Agriculture published a report today that predicts the country's annual soybean imports will rise by 15.8 percent between now and 2024, which is much different from USDA's projection. Very Few Soybeans Inspected for Export Last Week Yesterday's USDA export inspections report indicated only 147,939 MT of soybeans were inspected last week for export. I believe that is the lowest for any week in the current marketing year. The unusually small inspection total is further evidence that U.S. soybean exports have largely stopped as most foreign importers have shifted to South American origin. Mexico accounted for 34.8 percent of last week's inspections with Indonesia at 22.4 percent and China at just 22 percent (32,545...
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.