Wheat: Net sales of 502,700 metric tons for 2019/2020 were up noticeably from the previous week and up 33 percent from the prior 4-week average. Corn: Net sales of 873,500 metric tons for 2019/2020 were up 60 percent from the previous week and 28 percent from the prior 4-week average. Soybeans: Net sales of 1,050,100 MT for 2019/2020 were up 54 percent from the previous week, but down 17 percent from the prior 4-week average. Soybean Cake and Meal: Net sales of 238,600 MT for 2019/2020 were up 32 percent from the previous week and 17 percent from the prior 4-week average. Soybean Oil: Net sales of 30,000 MT for 2019/2020, primarily for Morocco (20,000 MT), Venezuela (10,...
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.