Oilseeds Soymeal Inventory Climbs for Fifth Straight Week With feed demand continuing to soften as more previously unidentified African swine fever (ASF) cases come to light, soybean inventories rose again to reach 924,700 MT as of 5 July 2019. That was 29,700 MT (+3.3 percent) higher than the previous week but down 347,400 MT (-27.3 percent) versus the first week of July 2018. Regionally, trends were quite mixed with inventories ticking up in three regions and declining in four. The most significant decreases on a percentage basis occurred in Fujian and Guangdong with drops of 14,500 MT (-34.9 percent) to 27,000 MT and 15,700 MT (-30.7 percent) to 35,500 MT, respectively. The largest gain in relative terms was the 22,400 MT (+18.7 percen...
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.