Large Soy Export Sales Last Week Today’s USDA export sales report showed last week was again brisk for U.S. soybeans and products. Importantly, it did not include any cancellations of soybean sales to China, although it did indicate large sales to unknown destinations. 1,510,500 MT of soybeans were sold for shipment in 2017/18 during the week ending 5 April, mainly to unknown destinations (665,800 MT), China (254,700 MT), Egypt (132,500 MT), Mexico (131,300 MT) and Taiwan (96,500 MT). Sales for shipment in 2018/19 totaled 954,000 MT, primarily to unknown destinations (572,000 MT), China (258,000 MT) and Mexico (123,000 MT). Soybean exports last week totaled only 419,700 MT, a marketing year low, and were destined mainly to China (76...
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.