After going to four different grocery stores this past weekend looking for heavy cream and nearly coming up empty handed, it is confirmed that U.S. dairy supplies are tight. USDA initially proclaimed higher prices in 2022 due to larger exports, but those are running even with a year ago. Higher butter and cheese exports are offset by lower milk and nonfat milk powder exports. Overall U.S. dairy production is down one-half percent, but demand is strong. Meanwhile, Australia’s dairy production and exports have rebounded from last year’s drought. Diary-based food inflation hit 15.9 percent in September, versus 13 percent overall for food. U.S. dairy production in 2023 is forecast to rise while fat-based exports decline and s...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
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.