The rally in ag commodities faltered somewhat today as lower cash soymeal prices and a warming trend in the Black Sea pressured the soy complex and wheat markets, respectively. Corn managed to work its way higher in modest trade ahead of Thursday’s USDA report. Presently, U.S. stock indexes are flat with the Dow up 2.74 points and the S&P 500 up 4.99. The CBOE VIX is down 39 points while the U.S. Dollar Index is down a similar amount at 89.603. COMEX gold is up $16/ounce as investors seek refuge from the recent stock market volatility. WTI crude oil is flat while Brent is up 20 cents/barrel. Corn May corn finished a penny higher as improving ethanol margins (with futures over $1.50 on the back of higher energy compl...
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.