Soybeans: USDA’s outlook for 2023/24 is higher U.S. ending stocks, up 25 million on higher yields, to 245 million bushels. The U.S. season-average soybean price for 2023/24 is forecast at $12.90 per bushel, unchanged from last month. The soybean oil price was reduced 2.0 cents to 61.0 cents per pound. The soybean meal price is unchanged at $380.00 per short ton. The global 2023/24 soybean ending stocks are reduced 1.1 million tons as higher stocks for Brazil and the United States are more than offset by lower stocks for China: China’s beginning stocks are reduced on lower soybean imports for 2021/22 and 2022/23 and higher crush for 2022/23. ...
Key Market Insights July is here, and the grain markets already feel like they are shifting gears. With the June USDA reports now behind us, inflation is back in the conversation, and traders are once again turning their attention to three familiar summer drivers: demand, money flow, and weathe...
Key Takeaways: Poultry is the fastest-growing major animal protein, supported by lower production costs, affordability, and broad consumer appeal. Broilers are the most feed-efficient major livestock species, giving chicken a lasting cost advantage over beef and pork. Short production cycles a...
What You Need To Know Today: Ethanol margins continue to run well above year-ago and normal seasonal values, but have slipped in recent weeks on weaker DDGS and ethanol pricing. WPI’s models project a steady decrease in returns to ethanol production following the end of the summer...
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.