While today’s Stats Canada stock numbers did not contain any signficant surprises, two crops showed an interesting change from last year. Meanwhile, this week's U.S. hard red winter wheat crop quality tour exceeded expectations.Stats Canada released its 31March stocks estimates this morning, which are detailed in the table below:There weren’t any significant surprises in today’s numbers. WPI has pointed out on several occasions that Canada’s wheat stocks will be the lowest at the end of the marketing year (30 June) than in more than a decade. They could fall to 3 MMT (excluding durum), half of last year’s number and about 50 percent of the 10-year average. The other factor in tight stocks is the poor quality of those that remain. 2016 plant...
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: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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.