Dec 21 Corn closed at $5.565/bushel, up $0.075 from yesterday's close. Sep 21 Wheat closed at $7.0525/bushel, up $0.165 from yesterday's close. Nov 21 Soybeans closed at $13.7775/bushel, up $0.1675 from yesterday's close. Dec 21 Soymeal closed at $359.4/short ton, up $1.3 from yesterday's close. Dec 21 Soyoil closed at 64.71 cents/lb up 1.31 cents from yesterday's close. Oct 21 Live Cattle closed at $128.15/cwt down $0.375 from yesterday's close. Sep 21 Feeder Cattle closed at $161.95/cwt down $1.5 from yesterday's close. Oct 21 Lean Hogs closed at $88.975/cwt down $0.55 from yesterday's close. Sep 21 WTI Crude Oil closed at $73.4/barrel up $1.01 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.