Monsanto today lowered its forecast for U.S. plantings of its Roundup Ready 2Xtend soybean this year from 3 million acres to 2 million acres. U.S. processors and exporters have indicated they will not buy any of the soybeans until a certain approval is issued. USDA Report’s Soy Highlights Today’s USDA WASDE report was a bit more bullish than the trade was expecting for 2015/16 but a bit less than this writer was expecting for 2016/17. It provided the first look at USDA forecasts for MY 2016/17, which is always interesting since the report is issued five months before the new marketing year begins. That will take some time to analyze, but following are some of the key items in the report for the current and next marketing years: 2015/16...
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.