One of the countries often overlooked as a market for soybeans is Turkey. However, it is one of the world's fastest-growing markets for soy as it expands its domestic dairy, poultry, egg and aquaculture sectors to feed its population and that of neighboring countries. U.S. Soybean Exports at Record Pace U.S. exporters have been exporting soybeans at a very rapid rate ever since the new crop became available in September. The total for that month was 2.109 MMT (77.48 million bushels) despite extremely tight domestic supplies. Since then, the pace has exploded with inspections reaching a record 2.8455 MMT (106 million bushels) in the week ending 30 October. However, this achievement did not hold long as USDA reported yesterday that soybean...
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.