The Brazilian soybean market showed huge movement during the past few weeks, especially in the June position. The interesting dynamic has recently been the rising FOB prices juxtaposed against stable CNF rates due to one particular factor. Soybeans Argentina Argentina’s soybean harvest reached 53 percent completion last week on a weekly progress rate of 17 percent, and it is 7.5 percent ahead of last year at this same date. The average yield dropped to 3.44 MT/hectare this week as more marginal areas are being harvested. In total, 33 MMT have been harvested so far, and total production estimates remain around 56.5 MMT.Farmer selling is near 10 percent to date (roughly 5.6 MMT), but crushers used 4 MMT in April while exporters shipped 850...
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.