Markets tried to be slightly better overnight and this morning in hope that today’s USDA’s reports might contain some positive news. There was nothing in the WASDE that could be considered even slightly bullish. It was the opposite as ending supplies for U.S. wheat and corn were higher with those of soybeans down a marginal 10 million bushels. The corn and wheat response to the bigger numbers was muted. Corn traded 1-2 cents lower much of the day with winter wheat steady to a penny or so higher. Meanwhile, the soy complex was weak. U.S. equity markets were lower, still suffering from yesterday’s dismal European Central Bank (ECB) growth forecast. Today’s monthly U.S. jobs report didn’t help with the job creati...
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.