Grain and oilseed markets started the month of December higher. Soybeans were the leader on slightly drier forecasts for southern Brazil and Argentina. Wheat was also strong, led by the Minneapolis December contract, which closed up 9.25 cents after seeing double-digit gains. KC and Chicago were 4-5 cents higher much of the session. Funds were generally seen as buyers in relatively average trading volume. Corn, wheat and soybean markets closed at or near the day’s highs. USDA announced the sale of 130,000 MT of corn to “unknown” this morning. The other outside markets were a mixed bag to end the week. U.S. equity markets started higher on expectations the Senate will pass the tax plan. Those same markets collapsed on rep...
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.