China's domestic corn prices saw modest improvement last week. The slight rise has been largely driven by a recent supply shortage in the north, which has been affected by drought. Oilseeds Soymeal Inventories Continue to Increase Estimated soymeal inventories for major Chinese crushers increased last week to 1.47 MMT, a 6.1 percent (84,100 MT) gain over the previous week. They were 39.98 percent (882,294 MT) lower overall compared with the same period a year ago. Among the surveyed regions, inventories decreased by 27.33 percent to 107,100 MT and 18.25 percent to 471,000 MT in northern and northeastern China, respectively. Meanwhile, they rose by 52.73 to 150,300 in Fujian Province and 51.5 percent to 180,300 MT in Guangxi Province. Alt...
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.