The market has been very focused on China as the driver of global soybean and soymeal demand for good reason. However, there are other populous countries displaying equal if not stronger growth in soymeal consumption. Indonesia to Finally Begin Collecting Palm Oil Export Tax On 16 July, the Indonesian government will begin collecting the palm oil export tax that had been announced in March but delayed because of administrative issues. It will be in effect any time the oil's reference price falls below $750/MT. The tax rates will be $50/MT for crude palm oil and $30/MT for refined palm oil. The government expects to collect the equivalent of about $337.6 million. The revenue will be used for partially funding the new internal biodiesel sub...
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.