Argentine market participants are buoyed by the expectation that the U.S. will be unable to fully meet growing Chinese sorghum demand. While there are other factors to consider, obstacles that had previously prevented Argentina's sorghum from entering China have been addressed. Soybeans Soybean futures contracts could experience some downward price movement if there is nothing bullish within USDA's data for U.S. acreage and stocks, scheduled for release 30 June. This is because South America ports are now full of soybeans, and the offers that were at 34 SN for July and 37 SN for August just a week ago are being offered today at 20 SN and 25 SN, respectively. 9 MMT have already been sold between Uruguay (1.8 MMT) and Argentina (7.2MMT), an...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
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.