The U.S. corn and soybean yields reported in today’s September WASDE were the first to use corn ear counts and weights plus soybean pod counts and weights from actual field surveys conducted by NASS scouts. As a result, NASS estimates that the national average corn yield will be 168.2 BPA, down 1.3 BPA from August, but still 1.5 BPA higher than the average trade guess. The September soybean yield estimate is 47.9 BPA, a .6 BPA reduction from August, but .7 BPA higher than trade expectations. Of course, the September 2019 yield estimates are well below the final estimates for 2018 of 176.4 BPA for corn and 51.6 BPA for soybeans due to this year’s late planting and wet conditions. Based on its latest yield estimates,...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.