USDA WASDE Report Substantially Loosens Soy Supply/Demand Situation Only a few days after USDA raised its estimate for U.S. soybean ending stocks in 2020/21, it again raised its estimates for stocks in 2021/22 with its 12 October WASDE crop production report. By increasing its forecast for the U.S. soybean crop in 2021 from 50.6 bushels/acre to 51.5 bushels/acre, it added 74 million bushels to the forecasted supply to 4.719 billion bushels (128.44 (MMT). That resulted in raising its forecast for U.S. soybean ending stocks on 31 August 2022, to 320 million bushels (8.71 MMT, up from the September forecast of only 185 million bushels (5.04 MMT). As might be expected, the higher soybean production forecast caused a 2.4 percent decline...
What You Need to Know Today: The U.S. and Iran agreed to a peace deal on Monday with the deal expected to be signed Friday in Switzerland. The memorandum signed is explicit that Iran will allow 60 days of toll-free transit for all traffic through the Strait of Hormuz, and President Trump annou...
The U.S. and Iran announced a framework peace deal. Crude oil futures dropped to $83.08, the lowest since early March. The breakthrough comes as President Trump said that if Iran failed to reach a deal, he would order renewed military attacks. An LNG tanker chartered by India’s Petronet c...
Key Takeaways: Vertical farming offers year-round production, reduced water use, and the ability to grow fresh produce closer to consumers. High electricity consumption for lighting and climate control has proven to be the industry's biggest obstacle to profitability. Large upfront investments...
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.