May 21 Corn closed at $6.505/bushel, up $0.25 from yesterday's close. Jul 21 Wheat closed at $7.105/bushel, up $0.355 from yesterday's close. Jul 21 Soybeans closed at $15.1425/bushel, up $0.3475 from yesterday's close. Jul 21 Soymeal closed at $425.3/short ton, up $9.2 from yesterday's close. Jul 21 Soyoil closed at 58.95 cents/lb up 2.01 cents from yesterday's close. Jun 21 Live Cattle closed at $115.85/cwt down $1.4 from yesterday's close. Aug 21 Feeder Cattle closed at $148.375/cwt down $3.55 from yesterday's close. Jun 21 Lean Hogs closed at $103.55/cwt down $0.975 from yesterday's close. Jun 21 WTI Crude Oil closed at $61.63/barrel up $0.28 from yesterday's close. ...
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.