Market Trends U.S. Ag Exports to China Set New Record for January Even with China’s economy sputtering and the reversal of the zero COVID-19 policy impacting public health, the numbers for this past January were quite extraordinary. With soybean exports driving the bus, the U.S. shipped to China just over 6.91 MMT valued at $4.51 billion for an average FOB price of $651.94/MT. The figures for January were quite close to December’s totals, as the volume was down by just .7 percent, while with the average FOB price rising by $9.53/MT or 1.5 percent, the aggregate value actually improved by .9 percent. That, in turn, resulted in the value for January surpassing the previous record of $3.83 billion set in 2021. Meanwhile, the tota...
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.