Trading volume was quite large again overnight, but it then slowed during the day session with prices recovering to levels around Monday’s closes. It was an easy day at the office for U.S. wheat markets. General Comments Grain and soy futures prices were firmer at the beginning of the overnight session as they reacted to larger-than-expected declines in weekly crop condition ratings for corn and soybeans. The good/excellent rating for corn dropped 3 percent to 65 percent, while that of soybeans slipped 2 percent to 62 percent. Spring wheat rated as good/excellent dropped 2 percent to 35 percent, the poorest rating in 29 years. Perhaps the most vivid way to describe the 2017 U.S. spring wheat crop woes is to point out that the percentage o...
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.