China’s corn prices remain on the defensive and it is likely any governmental support policies will shift towards processor incentives in the long run. Domestic soybean prices are higher with Sinograin reportedly buying new-crop supplies. Oilseeds SOYMEAL INVENTORY DROPPED TO 21-WEEK LOW As of 22 September, China’s estimated soymeal inventory decreased by 97,400 MT (-7 percent) from the previous week to 899,300 MT, mainly due to processors and feed mills stocking up for the Holiday. Compared with the same week in 2016, last week’s estimated soymeal inventory was 387,300 MT higher (+75.6 percent). The estimated soymeal inventory fell across the nation, with inventories in Northeast and Shandong falling the most...
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...
What You Need to Know Today: Wholesale inflation was flat in July, with the Producer Price Index (PPI) unchanged versus expectations for a 0.2 percent increase. Core PPI rose 0.2 percent, also below expectations. The softer inflation data has reduced the odds of a September interest rate incre...
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.