It was reported on 15 December that Russian grain exporters have suspended the signing of any new grain export contracts due to the recent RUB rate fluctuation that occurred 15-16 December. Meanwhile, Russia's Minister of Agriculture Nikolay Fedorov said a grain export ban is not being considered. Russian Grain Markets Market Trends: 8-12 December 2014 During the week in review, currency was the key factor influencing the market prices. The RUB rate decreased 7-8 percent over one week and dropped 10.7 percent in a single day, 15 December. Thus, prices on the Russian domestic grain market increased 5-7 percent in RUB expression, but declined in USD expression. GEOGRAPHICALLY: 3rd grade soft milling wheat prices continued growing in Cent...
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.