Last week, WPI published our mid-July outlook for a few – in our view – likely scenarios for the U.S. 2023/24 soybean balance sheet. To add to that effort, this article discusses our outlook for the U.S. 2023/24 corn balance sheet in the context of low/high yields and steady/weaker U.S. dollar levels. Yield Expectations As WPI frequently notes, early-season crop condition ratings have little correlation with final yields and, for corn, it is the July and August ratings that have the highest (but still imperfect) impact on yields. More importantly, heat and precipitation during pollination is highly influential with high temperatures – especially when sustained overnight – having significant negative imp...
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.