Soybeans in Paraguay Suffering from Dry Weather Paraguay is the third-largest soybean producing nation in South America. It produced about 8.85 MMT of soybeans in 2019, down from a high of 10.333 MMT in 2017. USDA currently is forecasting production in 2020 at 10.2 MMT. However, because of hot, dry weather it appears production will be well below the USDA forecast. Apparently, it is so dry in northern Paraguay that soybeans that have emerged are dying out and dying. In some cases, farmers have had to replant once, and in some case twice, and are still seeing newly emerged soybeans die from a lack of moisture. Forecasts call for no significant rainfall in the near future. For that reason, analysts are already reducing their estimates for t...
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.