The Market The trade shook off earlier concerns about Brazilian flooding and instead focused this week on the good start to the U.S. soybean crop, and Argentinian beans and coproducts ready to hit the market. The result was July soybeans fell 3.4 percent to 1205/bushel, and November soybeans dropped 2.8 percent to 1184.5/bushel. Soymeal had been carrying the complex but this week it was soyoil that came out on top. July soymeal lost 5.6 percent to end at 364.7/bushel. July soyoil managed a 0.57 percent gain on the week and is now valued at 45.52/pound. Not bad since it hit a new contract low just three weeks ago. Malaysian August palm oil futures rose 45 ringgits on Friday and logged a weekly gain due to larger exports. However, July cano...
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.