Soybeans Brazil Crop conditions in Brazil remain excellent in general. Soil moisture is good with decent rains received regularly. Perhaps the only dry region is where the La Niña is bringing a drought with effects similar to those currently impacting Argentine production, Rio Grande do Sul (in the south). Traders still believe the Brazilian crop will be around 111-112 MMT for the coming campaign. This seems to be a very good figure, although it is slightly below the last campaign’s 113 MMT. According to Conab, the seeded area should expand 2-4 percent from 33.909 million hectares to 34.612-35.339 million. This means production could still surpass that 113 MMT crop. Nevertheless, farmers have been selling less volume than in...
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.