THE OPEN July beans: 1 1/2 lower July meal: .80 lower July soyoil: 29 lower July corn: 3/4 lower July wheat: 3 lower Prices opened with profit-taking in oilshare and short-covering in corn as the major feature of trade. Prices were choppy heading into the report with wheat and soyoil futures on the defensive. Selling ideas continue to remain over the market, as the producer seems to wait for still higher prices before selling further. Post report, Ags turned mixed again seeming to see weakness from spill-over from falling macro markets. At 11:00 the report was as follows: USDA Reports Flash 06/11 11:24 U.S. ENDING STOCKS (Million Bushels) 2019-20 &nb...
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.