The combined effects of sluggish demand from downstream users and the large surplus of corn forced Chinese processors to take significant price hits last week. Despite demand falling, they have had no choice but to increase utilization rates in order to deal with the sizable corn inventory. Oilseeds Soymeal Inventories Continue to Rise The estimated soymeal inventories for China's major crushers climbed to 882,400 MT last week, an increase of 12.34 percent compared with the previous week. In terms of year-on-year comparison, they reached 1.97 MMT for the same week in 2014, more than double last week's total. At the regional level, the largest increase last week occurred in Shandong Province where the inventories rose 182.22 percent to 18...
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 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.