The overnight session that started Monday evening was the first opportunity to trade CME grain and soy futures since Friday. Wheat futures traded higher, but corn and soybean prices started out unchanged to lower. The latter gradually turned green as well in response to an array of threatening weather conditions and forecasts for Black Sea winter wheat, southern U.S. Plains HRW, Midwestern heat, Russian spring wheat, Brazilian second crop corn and Australian wheat. Stronger prices continued as trading resumed for the day session, but a good deal of the impetus behind the earlier rally had faded by midday. Word that the Trump administration was readying a list of $50 billion of Chinese goods that could be subject to 25 percent tariffs put a...
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.