Trading was quiet in the ag markets today with wheat mostly higher, soybeans lower, and corn unchanged ahead of the U.S.-China trade talks this week. Planting progress is continuing across the Midwest ahead of an expected deuteriation in weather to occur later this week. Outside the ags markets, the Dow Jones and S&P 500 indexes are down 0.25-0.3 percent while the CBOE VIX index is down 28 points. The dollar is flat in comparison to recent day’s gains at only a 6-point increase. COMEX gold is $2.70/ounce higher while natural gas futures are lower and crude oil is higher. Corn July corn futures fell ¾ cents today but sustained a close above $4.05/bushel in an inside trading day on the charts. World weather, es...
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.