The 31 March USDA planting intentions reports indicated notable changes ahead for U.S. barley acreage, and there are several reasons why.Barley acres in the U.S. have followed the pattern of wheat over the last few decades with planted area now forecast to drop 17 percent from 2016. 70 percent of the U.S. barley acreage is historically in North Dakota, Montana and Idaho. The 31 March USDA planting intentions reports showed that North Dakota’s barley acreage will drop 36 percent from last year with Montana’s down 30 percent. Meanwhile, Idaho’s farmers indicated they will increase barley acres by 5 percent. This year’s U.S. acreage won’t be the smallest ever, but it will be close (see chart below).The biggest reasons for the steep declines in...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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.