The overnight trading session was rocky for the CBOT with grains and oilseeds initially pushing lower and corn, soybeans, and soyoil posting new contract lows. By morning, however, Dow and S&P 500 futures were pointing to a strongly higher open, which lifted CBOT markets as well. The Fed’s infusion of $1.5 trillion of cash into the bond market gave equites reason to trade higher, and the Dow opened some 1,200 points in the green. This afternoon, President Trump announced that the COVID-19 outbreak is a national emergency, which will help free up funding for programs designed to offset the virus impacts. Additional reports suggest the U.S. Congress and Trump Administration are working towards legislation that will provide ai...
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.