Today’s USDA/FAS export sales report for the week ending 8 March showed the expected trend of large sales for corn, soybeans and soy products but a very slim amount for wheat. The standout development was the soaring corn sales of 2,505,100 MT for 2017/18 plus 100,000 MT for 2018/19. That is the largest they have been on a weekly basis in many years. Exporters also reported quite large corn loadings for the week at 1,406,330 MT, the most since the week ending 5 May 2017. U.S. corn has been the cheapest feed grain available since about the first of the year, which began to quickly translate into a higher volume of export sales that have now exceeded 1 MMT for the last nine weeks. The reported volume for that period totals about 16.6 M...
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.