Grain markets were higher amid a lack of farmer selling and forecasts of obnoxiously heavy Midwest rains. Corn and wheat were higher while soybeans found some pressure from continued trade war worries. Cattle futures found selling pressure early in the day but more prominent buying interest in the afternoon. The hog market continues to be driven by highly unusual spread trades that are keeping December futures at a sharp discount to October and February contracts. The USDA’s Export Sales report was bullish corn, bearish wheat, and somewhere in between for soybeans. YTD corn exports are up 50 percent from last year while wheat exports lag last year’s pace by 31 percent. YTD soybean shipments are down 23 percent, but this w...
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.