The big crop was made bigger by USDA’s latest report. The U.S. soybean yield is now the highest on record in the world. Argentina’s soybean crop forecast was reduced by the Rosario Grains Exchange and British rapeseed plantings will fall due to pest control issues. USDA Boosts U.S. Soy Yields, Production and Ending Stocks. As expected, USDA raised its estimate for the average soybean yield in the U.S. by 1.1 bushels per acre to 52.5 bushels per acre (3.531 MT/hectare) yesterday. That not only is a record high for the U.S. but a record high for every country in the world.USDA now estimates U.S. 2016 soybean production totaled 4.36 billion bushels (118.69 MMT), which is 11.83 MMT (435 million bushels) greater than last year’s record output...
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.