USDA/NASS cut the U.S. corn and yield estimates by 1.8 bushel/acre (BPA) and 1.0 BPA, respectively. Those reductions were well below the average minor changes expected by the trade. This resulted in production estimates that were also well below the average guesses reported by wire services. Clearly, some negative impact of adverse weather on mature crops prior to harvest was accounted for in those estimates. After making adjustments to corn demand, USDA forecast that ending 2018/19 U.S. stocks would fall to 1.736 billion bushels, down 77 million from October and over 400 million bushels lower than ending 2017/18 stocks. The smaller estimated soybean production was more than covered by a reduction of 160 million bushels in total demand (low...
What You Need to Know Today: Funds remain in control of the market, which means broadly bearish trade for the ag sector. Monday’s massive corn export sale to Mexico helped trigger some short covering and a bit of other end-user buying in corn, which could help stabilize the market. Wheat...
With less than 24 hours until Election Day, control of the Senate remains a wild card. Republicans and Democrats alike say they are poised to win control of the chamber in the new Congress that starts in January 2027. The House of Representatives is more of a lost cause for continued Republican...
Key Takeaways: U.S. hog and pork prices have declined sharply, with December lean hog futures ending October at $58.875/cwt and the pork cutout reaching its lowest level since January 2021. Seasonal increases in hog slaughter and pork production have contributed to price weakness, although the...
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.