For the second month in a row, the 2017 U.S. corn and soybean yield/production estimates from USDA/NASS surprised the great majority of private analysts and crop scouts.For the second month in a row, the higher 2017 U.S. corn and soybean yield/production estimates from USDA/NASS surprised the great majority of private analysts and crop scouts. It had been expected that there would be at least modest reductions. Corn Estimates NASS has the 2017 national average yield at 169.9 bushels/acre (BPA), up 0.4 BPA from August. Production was put at 14.184 billion bushels, up 31 million bushels from August. That is a minor increase, but it looms larger compared to the average trade guess of about 14 billion bushels. Although today’s production esti...
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.