GOOD MORNING, It's month's end, end of a quarter, with a March 31 Planting Intentions and Quarterly stocks report on the way at 11:00 Chicago time. No doubt that we will all be a bit smarter after 11:00, as we see how the farmers responded to their survey of acreage intentions. Expectations are more or less for bullish wheat numbers, bearish corn numbers, and neutral to bearish beans. Spring acres could be smaller than expected, while durum should be larger. The average advertised trade estimate for March 1 corn and bean stocks are 8.125 bln and 2.241 bln bu, respectively. March 1 wheat stocks are estimated at 1.432 bln bu, which would be down 10% from year ago, and the smallest for the date in four ye...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.