SOYBEANS: U.S. soybean supply and use changes for 2022/23 include higher exports, lower crush, and reduced ending stocks compared with last month’s report. Higher exports more than offsetting lower crush, and the U.S. ending stocks are estimate is reduced 15 million bushels to 210 million. U.S. soybean oil exports are reduced 200 million pounds to a historically low 500 million. The U.S. season-average soybean price forecast for 2022/23 is unchanged at $14.30 per bushel. The soybean meal price is forecast at $465 per short ton, up 15 dollars. The soybean oil price is reduced 2 cents to 66.0 cents per pound. Global 2022/23 soybean ending stocks are lowered 2.0 million tons to 100.0 million...
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.