THE OPEN May beans: 5 higher May meal: 2.90 higher May soyoil; 25 higher May corn: 1 lower July wheat: 4 3/4 higher Prices opened as called with more fund selling in the corn market against firmer wheat, beans, and meal at the start of the day. Later in the session, weaker corn weighed on all else in a low volume session. Soyoil prices retained a firm feel as palm oil plantations shut down, suggesting a return to tighter supplies. Incredibly, crude oil trades below $20/barrel to $19.85/barrel, though soyoil prices decouple from energies. Buy beans and wheat/sell corn trade continued to be a theme for most of the day. Higher Chinese markets continued to help beans and m...
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.