THE OPEN November beans: 1/2 lower December meal: .30 higher December soyoil: 6 lower September corn: 3 1/4 higher September wheat: 3 higher Prices opened on a mixed note today, with buying in oilshare and more position - evening in grains. Buy grains/sell soy was the opening morning trade, which pushed the meal chart to new ctr lows and soyoil charts into price stability. Beans appeared to see liquidation in front of tomorrow's USDA report. At 10:00 export inspections were released as follows: beans: 324,512 mt vs. 255,810 mt week ago wheat: 515,359 mt vs. 686,036 mt week ago corn: 1,234,690 mt vs. 1,295,845 mt week ago Inspections were neutral...
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.