Futures trading on this last day of the year saw Chicago wheat fall 10-12 cents. Corn futures dropped more than 9 cents – a major move for the corn market. Soybean futures sank about 18-20 cents. The principal reason for the across-the-board weakness was long liquidation.On this last day of 2014, we wish everyone all the best for the New Year. We hope that 2015 proves to be happy, peaceful, prosperous and safe. Happy New Year! General Comments 2014 will be remembered as the time when the world produced record-large crops of corn, wheat and soybeans all in the same year. That is a remarkable achievement. If there is a precedent for this, we are not aware of it. The 2014/15 crop cycle also appears to be one in which the linear trend of worl...
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.