Wheat and soybean markets were strong overnight on very good volume. Weather in Argentina has become the market’s focus, and there were some scattered showers this past weekend. However, amounts and coverage were spotty. The six-10 day forecast looks hot and dry with temperatures possibly exceeding 100°F degrees. Brazil’s problem is too much rain that has delayed harvest in some areas. Funds did not reduce their short positions last week and reportedly started this week still short 83,000 contracts of soybeans, 126,000 contracts of Chicago wheat, and just over 200,000 contracts of corn. However, they have rapidly turned their soymeal position from short to long. All three markets are on the verge of pushing above key techni...
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.