No Huge Changes in USDA Soy Forecasts Anyone expecting major changes for the U.S. and global soybean supply/demand situation in today’s USDA crop production and WASDE reports was disappointed. The estimate for the U.S. 2017 crop was reduced by 5 million bushels, and ending stocks were cut by a like amount to 425 million bushels since all other categories were left unchanged. USDA raised its forecast for average soybean yields in 10 states and lowered them in another 10, but the national average was almost the same at 49.5 bushels/acre. The most notable increases were a 2-bushel gain to 58 bushels/acre in Nebraska and the 1-bushel boost to 58 bushels/acre in Illinois. The largest reduction was a 4-bushel cut to 45 bushels/acre in Mich...
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.