China’s recent currency depreciation has raised the cost of imported soybeans and is one factor that has slowed domestic utilization rates. A second factor is that demand from downstream markets remains weak. Oilseeds Soymeal Inventories Move Higher Last week, China’s soybean meal inventories were estimated at 1.4 MMT, a 10 percent increase of 129,300 MT from the previous week. Compared with the same period in 2014, last week’s estimated soybean meal inventories are 53,000 MT lower (-3.98 percent). Among the surveyed regions, soybean meal inventories fell 9.66 percent in Northern China to 154,300 MT and 17.73 percent in Guangxi to 157,700 MT. Partially offsetting were increases in soybean meal inventories by 35.46 percent in Northeast Ch...
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.