Adverse weather conditions in Argentina and parts of Brazil are starting to slowly change the dynamics of the corn market (or at least the world numbers). USDA’s latest estimate of Argentine corn production is 42 MMT, but some analysts are now thinking it could drop to as low as 36-38 MMT IF the 10-day weather forecast for very hot, dry conditions proves to be accurate. This is because the crop is in a very vulnerable stage of development. Weather in Brazil is also starting to impact that country’s production but for a very different reason. The more important corn crop there, especially for export purposes, is the safrinha or second crop. This is planted following the soybean harvest, which ongoing wet weather is now starting t...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.