Markets were mixed in the Thursday night session, and that’s pretty much how they ended the week. Corn didn’t do anything today, while soymeal and soyoil futures supported soybeans. Wheat was down 1-2 cents overnight, but those losses turned bigger this morning. Trading volume today in wheat, corn and soybean markets was back to more normal levels after a very slow period through the Christmas and New Year holidays. U.S. equity markets ended the first week of 2018 again setting new all-time highs. Crude oil traded briefly above $62.00 before dropping 50-60 cents, and yet it still traded at the highest levels since June 2015. The U.S. dollar was slightly firmer today. Next week’s markets will focus on the weather outlook...
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.