The continued sale for export of so many of last year's soybeans increasingly suggests the 2013 U.S. soybean crop was larger than USDA is estimating. Big Soybean Sale to Unknown Buyers USDA caused a bit of commotion today in the soybean market when it announced the sale of 568,000 MT (20.87 million bushels) of soybeans to unknown buyers for shipment in MY 2013/14. The trade initially discounted the sale by assuming it was for shipment in 2014/15 or a cancellation for China erroneously reported as a sale. However, USDA later told reporters the exporter reporting the sale had been contacted and re-affirmed that it was indeed a sale for shipment in 2013/14. If the sale announcement indeed is correct, then the logical buyer is China. However,...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.