It has been reported that Russia is experiencing a shortage of soymeal that is likely to worsen in the future. This is a result of certain government actions as well as a failure of domestic soybean production to keep up with local demand. Brazil Soy Crop Forecasts Raised; Farmer Selling Slow Several analysts raised their forecasts this week for Brazil’s 2017 soybean crop. FC Stone International today estimated that production may reach 109.07 MMT (4.007 billion bushels), an increase of almost 5 MMT versus its previous forecast. It also noted that weather conditions have been nearly perfect in a large part of the planted area. Meanwhile, the consulting firm AgRural boosted its forecast yesterday to 107 MMT (3.931 billion bushels) fr...
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.