Trading during the overnight session was quiet with moderate volume ahead of this morning’s WASDE with its projections for 2018/19. Prices were generally firmer with soybeans up 4-5 cents while corn and wheat futures posted smaller gains. During the day session, the market did very little ahead of the report. Following its release at noon (EDT), soybean futures prices quickly jumped 12-15 cents higher as traders and, we assume, computers were impressed by the 20 million bushel cut in estimated U.S. old crop soybean stocks and projected 2018/19 ending soybean stocks of only 415 million bushels. The latter were over 100 million bushels below where many in the trade thought that number would be. Trade analysts were thinking in ter...
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.