It is reported that fewer than half of the maize plantings in South Africa have been completed due to the severe drought. With yellow maize prices up about 30 percent in recent days and 82 percent on the year, livestock farmers and dairy producers are warning that their meat, egg and dairy product prices will be increasing in coming weeks. Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Three vessels are said to be blocked at Dunkirk, France from loading about 60,000 MT of wheat (each) destined for Egypt due to delays in issuing letters of credit (L/Cs) by GASC. Two of the cargoes were for last-half December 2015 shipment. European traders say that the L/C problem should be resolved in the next week, but it is certainly of concern to...
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.