Losses of Soybeans to Flooding It will be years before the damage done by the widespread floods in Nebraska, western Iowa and Missouri are overcome. Roads, railroads, levees and some dams were washed out along with many homes, businesses and thousands of acres of farmland. The cost will be several billion dollars. One of the short-term impacts has been the loss of millions of bushels of corn and soybeans that were stored in grain bins. Photos from the affected areas show hundreds or thousands of those bins burst open when the contents inside swelled after floodwaters leaked into them. By law, the grain damaged in this way cannot be sold or fed to livestock. It will likely be months before the total losses are determined, but they will not...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.