GOOD MORNING, Prices were higher overnight after dropping to new trading range lows for soyoil due to an unexpected wire service report that the EPA would recommend that biofuel mandates should be below 2020 due to less miles traveled. The agency subsequently announced that they could raise it back in 2022 but the damage was done as corn and soyoil were hit hard. Since surprises offer the biggest bang for the buck to the markets, the soyoil futures market took a downward trajectory, taking beans along for the ride last week. Buy meal/sell soyoil trade was noted on Friday, though it appears that there could be interest in oilshare ownership at lower levels. Soyoil enjoys a very healthy bounce overnight leading beans...
What You Need to Know Today: American and Mexican officials met Tuesday and will meet again Wednesday for another round of trade talks, where ag and energy will be a key topic. Another round is scheduled for 20 July. Ag groups are urging President Trump to renew USMCA for another 16 years, but...
Since the first U.S. case of New World Screwworm (NWS) was confirmed on 3 June, USDA has confirmed 12 cases. The latest was confirmed in a sheep on 12 June, with four additional cases confirmed in Texas on 11 June, three in cattle and one in a goat. The New Mexico case confirmed that the infect...
Key Takeaways: China has invested heavily in the Port of Chancay to strengthen trade links between South America and Asia. The port could reduce shipping times to China by up to two weeks and improve export competitiveness. Inland transportation infrastructure remains the primary obstacle to r...
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.