U.S. wheat will plunge 21 percent this year to the lowest level in nearly a century. The industry blames foreign trade barriers for its plight, but there is a larger problem.Lighthizer Opponents: After a more than three-month battle, Robert Lighthizer was finally confirmed by the U.S. Senate as the U.S. Trade Representative. The vote was 82-14, which is fairly good compared with other cabinet members facing opposition from a majority of Democrats. The no votes involved some petty score settling and “resistance” members who will vote against Trump no matter what. Mostly, they were voting to make the perfect the enemy of the good.Wheat Plunge: U.S. wheat will plunge 21 percent this year to the lowest level in nearly a century. The industry bl...
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.