U.S. Soy Export Sales Highlights Today’s USDA’s export sales report for the week ending 28 February indicated the total for soybeans was far below the amount announced the previous week, while those sales of soymeal and soyoil were moderate. Net sales of soybeans for export in 2018/19 totaled 311,400 MT, mainly to China (146,300 MT), Egypt (94,900 MT), the Netherlands (76,500 MT), Mexico (58,000 MT) and Indonesia (35,000 MT). Those sales and others were partially offset by reductions of 174,600 MT for unknown and 22,300 MT for Taiwan. Sales of 72,000 MT for shipment to Mexico in 2019/20 were also reported. Last week’s soybean exports totaled 982,900 MT with China (403,300 MT), Egypt (149,900 MT), the Netherlands (76,500...
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.