Poor weather is creating corn harvest delays in Ukraine and is pushing prices higher. Russian wheat prices were stable this week while corn prices continued to fall. Geographically 3rdgrade soft milling wheat prices were lower in Siberia (-$1.10/MT) and in the Ural region (-$0.90/MT), remained stable in the Central region, grew slightly in the Black Soil region (+$0.20/MT), in the Volga Valley region (+$1.30/MT), and in the Southern region (+$1.50/MT). 4th grade soft milling wheat prices decreased in Siberia (-$4.00/MT), the Ural region (-$2.40/MT), the Central region (-$0.60/MT), in the Volga Valley, and in the Black Soil regions (-$0.10-0.40/MT), but increased in the Southern region (+$0.90/MT). 5th grade whea...
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.