Forecast for Brazil’s Soybean Crop Increased Brazil’s crop supply agency (CONAB) this week increased its forecast for the 2020 Brazilian soybean crop. Its latest forecast is for a crop of 124.205 MMT (4.563 million bushels), up from its February forecast of 123.25 MMT (4.528 billion bushels). The crop is based on an area of 36.82 million hectares (90.98 million acre) and an average yield of 3.373 MT/hectare (50.15 bushels/acre). Brazil produced 115.03 MMT (4.226 billion bushels) of soybeans in 2019. Argentina’s Soymeal and Soyoil Exports Down Thus Far in 2020 A combination of a tight supply of soybeans and the closure of the country’s largest soybean processor has caused Argentina’s exports of soymeal and so...
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.