MarketAfter four sessions of yoyoing up and down on lower volume, January soybeans are rangebound and net 4.25 cents higher thus far this week. There have been no fundamental changes and that leaves traders comfortable with where things stand. Going more bearish would be getting out in front of the skis and a challenge to resistance at 997.5 might be more likely on any change in South American weather. 12052024oilseeds_beans.png 914.82 KBSoymeal cannot catch a break but soyoil is on fire like other vegetable oils on the situation in palm oil. 12052024oilseeds_meal.png 902.97 KB12052024oilseeds_oil.png 943.54 KBPalm oil stocks in Malaysia fell 4.3 percent from October to November and totaled 1.8 MMT, the lowest level since July. T...
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.