Some of USDA’s fresh numbers released in today's April WASDE were tilted more bearishly than analysts predicted, but none were extreme enough to cause a ripple. Now the focus quickly shifts to weather and spring planting. General Comments Taken in the abstract, USDA’s April WASDE was almost totally bearish. Even with the 2016/17 crop cycle well past the halfway point, USDA continues to increase 2016/17 world supplies of wheat, corn and soybeans while reducing some of the expected demand. Once again, there is the prospect of having record-large ending stocks of corn, wheat and soybeans – hardly a pretty prospect for grain and soy markets. Yet, corn and soybean futures prices treated it all with, shall we say, limited reaction. Corn f...
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.