Although overnight trading volume in currencies, interest rates, stock indexes and crude oil was heavier than usual, grain and soy futures prices continued to plod along on their own. Prices eased in relatively slow trade, but they mostly stayed within their recent trading ranges. One exception was Chicago wheat. Its December contract traded below chart support at $5.05 and down to its lowest level in several weeks. Wheat’s weakness continued to set the direction for the rest of the market during the day session. There was nothing new to trigger its downdraft other than a stronger U.S. dollar. Paris wheat futures were flat to mildly lower despite Algeria’s purchase of 500,000-600,000 MT of optional origin milling wheat for Nove...
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.