THE OPEN Jan beans: 1 3/4 higher Jan meal: 1.00 higher Jan soyoil: 3 higher March corn: 1 lower March wheat: 3 higher Prices opened as expected with more unwinding of recent spreads. Corn gained on wheat and beans, oilshare was steady, and in the macro space what seemed like a sell equities/buy grains trade emerged. Comments from Trump during the session only served as a catalyst for worry, as investors shed length over trade negotiations. South America still has a benign feel to it, which is capping off a bean recovery. Dr. Cordonnier left his Brazilian corn and bean crops unchanged at 102 mmt and 123 mmt, respectively. Argentina's corn and bean crops were also left u...
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.