CORN: USDA forecast U.S. corn production for 2022/23 at 14.4 billion bushels, down 146 million from the July projection. The season’s first survey-based corn yield forecast, at 175.4 bushels per acre, is 1.6 bushels below last month’s projection. The primary reason is reduced corn yield estimates in Indiana, Missouri, Nebraska, and Ohio. Supply is estimated to fall more than use, and the result is that the ending stocks forecast is reduced 82 million bushels to 1.4 billion. The season-average corn price received by producers is unchanged at $6.65 per bushel. ...
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.