Regional News Sweden’s 2023/24 grain production is expected to total just 4.4 - 4.5 MMT, down 1 MMT from 2022/23 and the lowest level in 30 years. As of Friday, 27 October there were 27 vessels at the entrance to Ukraine’s temporary Black Sea shipping corridor and 54 at the exit with operations having resumed after a short-lived shutdown early last week. Milling Wheat World wheat markets were mostly steady/lower last week with the resumption in export shipments from Ukraine pressuring values. EU wheat was down about €7/MT last week while U.S. markets followed and posted losses for the week. U.S. KCBT futures scored new contract lows on light demand for the grain. EU markets saw export interest fr...
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.