World Perspectives

SPR Release Combined International Actions Will Cover 12 Days of Russian Exports

President Biden announced plans to release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). Other countries who are members of the International Energy Agency (IEA) will release another combined 30 million barrels to add 60 million of supply for world market to ease the oil impact of the Russian war in the Ukraine. As of Friday 25 February, the SPR had 580 million barrels: 252.5 million of sweet crude and 327.5 million of sour crude. The capacity of the SPR is 714 million barrels, so the inventory is at about 80 percent of capacity and at its lowest inventory in 20 years. On 23 November 2021, Biden released 50 million barrels from the SPR, also along with an IEA coordinated release. The SPR release came in the form of...

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The Historic Context for January WASDE Yield Surprises

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 25 Corn closed at $4.705/bushel, up $0.145 from yesterday's close. Mar 25 Wheat closed at $5.3075/bushel, down $0.0325 from yesterday's close. Mar 25 Soybeans closed at $10.2525/bushel, up $0.2625 from yesterday's close. Mar 25 Soymeal closed at $298.3/short ton, down $1 from...

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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.

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