Wheat: Net sales of 442,600 metric tons for 2018/2019 were down 7 percent from the previous week and from the prior 4-week average. Corn: Net sales of 349,500 MT for 2018/2019 were reported for Mexico (275,800 MT, including decreases of 2,600 MT), Colombia (208,500 MT, including 167,000 MT switched from unknown destinations), Honduras (47,800 MT), Costa Rica (37,000 MT), and Tunisia (19,300 MT, switched from France). Reductions were reported for unknown destinations (164,500 MT), South Korea (69,000 MT), Vietnam (60,000 MT), and France (20,500 MT). For 2019/2020, total net sales were reported for Mexico (28,000 MT). Exports of 1,213,200 MT were primarily to Mexico (405,000 MT), Colombi...
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.