After two months of bearish reports, there was a general feeling that USDA’s October WASDE, released today at noon (EDT), would add to that trend with even higher yields and production for U.S. corn and soybeans than the already huge September estimates. Moreover, USDA had to factor in the larger carry in stocks (indicated by the 1 September quarterly stocks estimates) that would almost certainly lead to record-large total supplies. Well, the October WASDE gave the market some of what it expected but not quite all. Corn, soybeans and wheat futures all traded higher in the immediate aftermath of the report as its tone was not as bearish as feared. USDA harvested most of its test plots for today’s production estimates, but those n...
What You Need to Know Today: Wheat futures pulled back sharply after Russian President Putin said there was a “chance” for peace and an agreement to end the war in Ukraine. There is plenty of skepticism about the opportunity for peace in Ukraine, but that didn’t stop wheat fr...
President Trump has opened the door to 100,000 MT of beef lean trimmings (limited to HTS codes 0201.30.5091, 0201.30.5097, 0202.30.5091, and 0202.30.5097) from countries listed under the “Other Countries” TRQ effective 1 September. These imports would not be subject to the over-quot...
Key Takeaways: CHS and OCP plan to invest up to $450 million in a Louisiana phosphate fertilizer facility capable of producing more than 1 MMT annually, marking the first new U.S. plant of its kind in more than 40 years. The facility could reduce U.S. dependence on imported finished phosphate...
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.