U.S. Soy Exports and Sales Continue to Decline Today’s USDA export sales report showed U.S. soy export sales and exports continued their seasonal decline as South America ramps ups its harvest and exports. However, new soybean sales to China were a bit of a surprise. The weekly report indicated exporters in the week ending 25 March sold 105,800 MT of soybeans for export in MY 2020/21 and 131,000 MT for shipment in 2021/22. The sales for shipment in 2020/21 were mostly for China (124,000 MT), Egypt (49,300 MT), Japan (44,100 MT), Belgium (17,700 MT), and Colombia (19,700 MT). Those sales and others were partially offset by reductions in sales to unknown destinations of 216,500 MT. The sales for shipment in 2021/22 were for Pakistan (...
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.