Disappointing Export Sales for Soybeans The 24 November USDA export sales report was very disappointing for soybeans. It showed net soybean export sales for MY 2017/18 totaling only 869,100 MT the week ending 16 November, 45 percent below the past four-week average and a low for the marketing year. Sales for shipment in 2018/19 totaled 34,500 MT, all to Japan. Considering this is the prime marketing period for U.S. soybeans, the sales volume was far below what is necessary to reach USDA’s forecast for the year. The main destinations for the sales were China (407,100 MT), unknown (164,000 MT), Mexico (105,900 MT), the Netherlands (69,300 MT) and Peru (36,400 MT). Soybean exports were much better at 1,925,500 MT with 7.4 percent...
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.