GOOD MORNING, The Quarterly Grain Stocks report is in the rear-view mirror, but it set in motion higher trade as bears have to decipher what smaller than expected ending stocks mean for their positions and future trading ranges. We have the data, and now it is the mission of the market to make sense out of those numbers in a digestion phase. Trading ranges moved higher to match the new fundamentals. The report was friendly beans and corn (more so the latter) with spill-over strength to wheat. The market was not expecting bean stocks to shrink to 913 mln bu, even though it’s still double the Sep 2018 number of 438 mln bu. Corn lost 300 mln bu relative to expectations. Funds purc...
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.