China's soymeal inventories continued the pattern established after the first week of 2016 and dropped by 80,600 MT (-5.6 percent) last week to 1.35 MMT, a total that was 50,000 MT lower than the same week in 2015. This was all due to a combination of factors. Oilseeds Soymeal Inventories Continue to Decline as Expected Continuing the pattern established after the first week of 2016, last week’s soymeal inventories dropped by 80,600 MT (-5.6 percent) to 1.35 MMT and were 50,000 MT lower than the same week in 2015. This was all due to the combination of the processing industry’s low utilization rates and downstream customers’ stepped-up feed purchases. Northeast China was the only region that saw its inventories increase from the we...
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.