Corn had a relatively quiet trading day, but the market was firm the entire session. The strong wheat market in the early part helped corn as did the strong soybean market later. General Comments Wheat led Sunday evening markets slightly higher following much colder than forecast temperatures across the hard red winter wheat region Saturday night. Markets started today’s session firm with Chicago and KC wheat futures up as much as a dime at one point. The buying in wheat subsided by mid-morning. Corn and soybean markets were also firm.It was a relatively quiet trading session with average volume. There were no daily USDA sales announcements. Crude oil was steady to higher. U.S. financial markets were back and forth, but they gradually sta...
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.