Early morning gains gave way to afternoon losses in the CBOT markets while livestock futures were steady/higher. The weather remains moderately bullish row crops. This weekend’s weather was unusually hot and dry across the U.S. Midwest and Southern Plains. Unfortunately, this looks to be the first of several such spells, with hot weather again returning at the end of this week. While late-May heat correlates poorly with eventual corn and soybean yield losses, the present weather pattern suggests the summer will be hotter and perhaps drier than ideal. Elsewhere in the world, the Black Sea remains under a warm/dry spell while the spring wheat crop in Russia is too cool/wet. To date, approximately 60 percent of Russia’s spri...
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.