Russian Grain Markets: 19 - 23 December 2022 Russian Ministry of Agriculture announced a record year-end grain production of 159.5 MMT in bunker weight which is up 32.6 MMT from 2021. The Ministry forecasts the final grain production number after dockage at 150 MMT with wheat production at 100 MMT. Corn production is estimated at 13.9 MMT which is down from 16.1 MMT in 2021. Some corn harvesting may be delayed until spring or late winter. During the last week of 2022, Russian grain markets remained stable because of low trading activity at the year’s end. Traditionally, Russian Orthodox Christmas is on 7 January and most companies are taking a Christmas break during the first ten days in January. The trend is unm...
What You Need to Know Today: USDA cut the 2026 corn yield forecast by 1.6 BPA to 179.6, shaving 141 Mbu off the crop. Corn ending stocks were cut by 91 Mbu to a level that pushed the ending stocks-to-use (ESU) ratio to 10.8 percent. Conversely, USDA raised the soybean yield forecast 0.2 BPA to...
Key Takeaways: Expanding U.S. soybean crushing capacity is strengthening domestic demand, driven largely by growing soyoil consumption from the renewable diesel and biofuels industries. Despite increased domestic processing, substantial quantities of U.S. soybeans are expected to remain availa...
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.