Export Sales and Shipments for July 7-13, 2023 Wheat: Net sales of 170,700 metric tons (MT) for 2023/2024 primarily for Chile (78,200 MT, including 47,700 MT switched from unknown destinations), Japan (49,300 MT), Mexico (35,200 MT, including decreases of 7,500 MT), Brazil (33,000 MT switched from unknown destinations), and Algeria (20,000 MT), were offset by reductions for unknown destinations (66,000 MT), Peru (5,500 MT), and Colombia (900 MT). Export shipments of 236,200 MT were primarily to Chile (80,700 MT), Taiwan (36,600 MT), Brazil (33,000 MT), Mexico (31,200 MT), and Peru (22,000 MT). Corn: Net sales of 236,800 MT for 2022/2023 were down 49 percent from the previous week, but up 6 percent from the prior 4-week average...
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.