Soybeans Chinese crushers were avid buyers of spot beans last week, purchasing all cheap offers available for December and January. Their margins improved as CBOT soybean futures went lower and were certainly better on spot than any differed position (March onward), which encouraged that demand. Brazil Some cargoes were sold as December/January straddle, although availability was limited. A few were traded at +164/165SF CNF China from Brazil. There were also some Pacific Northwest (PNW) cargoes traded at +145SF for January. In addition, U.S. Gulf (USG) traded one cargo at 157SF, but there was less interest for this origin. All spot basis have risen significantly in the past three weeks. A month ago, PNW and Brazil were trading around 130...
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.