We note that every year at this time we have looked at projections for rapidly building soybean ending supplies in the U.S. that have yet to materialize, either because of lower yields or increased demand.The soybean market continues its push to new highs despite all the pleading from the bears that it must go down. Tightness in old crop U.S. soybean supplies persists even as the import forecast has been nearly doubled from historical levels. Demand simply has not abated, notwithstanding higher prices. Last week's National Oilseed Processors Association (NOPA) crush numbers slowed the largest March soybean crush since 2001. The meal demand is driving the big crush numbers. It is likely USDA will have to trim the ending supply projection aga...
What You Need to Know Today: Oil prices surged today following reports of tanker attacks off the coast of Saudi Arabia by Houthi rebels and renewed U.S. threats to escalate military strikes against Iran, heightening concerns over potential disruptions to Middle East energy supplies. Brent crud...
Key Takeaways: The latest UN data shows solid progress reducing global hunger and food insecurity. The geography of hunger-affected people has shifted substantially, however, and Africa is now the most affected region. To understand why hunger patterns have shifted and what policy option...
USDA’s monthly cattle on feed report for 1 July will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 102.2 percent of last year. Those estimates imply an on-feed inventory of 11.327 million head. If accurate, that would be 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.