China Resumes Buying U.S. Soybeans Reuters reports that a Chinese state-owned company purchased at least five cargoes of U.S. soybeans today. The five cargoes total at least 300,000 MT. Reports are the soybeans are to be shipped mostly from the Gulf Coast in August and September. The Chinese buyer also was inquiring about purchasing U.S. soybeans for export from the PNW, but there was no verification any cargoes were purchased. The buyer most likely was Cofco, but it also could have been Sinograin. The Chinese government has indicated it plans to import 10 MMT of soybeans to replenish its state reserve stocks. A large share of the imports is likely to be from the U.S. so China can comply with its commitment to purchase large amounts...
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.