With market attention soon shifting to prospects for the new crop year, it is worth noting some of the “big picture” fundamental similarities and differences that have developed among wheat, corn and soybeans in recent years.The statistical new 2017/18 crop year is still months away. For wheat, it begins 1 June in the U.S. and 1 July in much of the rest of the world, and for most of the Northern Hemisphere corn, other coarse grains and oilseeds, including soybeans, it starts 1 September or 1 October. However, Northern Hemisphere farmers planted the new crop’s winter wheat months ago and will begin to seed the spring planted crops for the 2017/18 crop year in just a few weeks. In fact, that process has already begun in the southern U.S. Futu...
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.