The day’s most active futures market was MGEX spring wheat. With building evidence that this year’s HRW crop will likely be unusually low in protein content as well as being small, millers are buying MGEX futures as the only guaranteed source of higher protein wheat. General Comments To be blunt but honest, today’s grain and soy markets were just plain dull. CME winter wheat contracts traded in a range of 5.5-6.5 cents with Chicago July closing 3 cents higher and KC July up 2.25 cents. That was just about today’s most exciting activity. July soybeans managed a 9 cent trading range before closing unchanged. November soybeans traded in a range of 8.25 cents and then closed down a half-cent. The corn market with its 2.75 cent trading range w...
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.