The new Indonesian government has made achieving self-sufficiency in the production of soybeans, sugar, rice, corn and meat a greater priority than its predecessor. It can likely make progress in all except soybean production for several reasons. Mato Grosso Soybean Area Up and Corn Down, Says Institute The Mato Grosso Institute of Agricultural Economics estimates the Brazilian state will plant 8.87 million hectares (21.9 million acres) of soybeans for harvest in 2015. That is 5.1 percent above the previous year's 8.44 million hectares (20.86 million acres). The organization is forecasting 2015 production will reach 27.89 MMT versus 26.29 MMT in 2014, an increase of 6.1 percent. It is estimating an average yield in 2015 of 3.144 MT/hectar...
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.