World Perspectives
wheat

WASDE Wheat

USDA’s estimate for 2023/24 U.S. wheat is reduced stocks.  All wheat production is projected at 1,659 million bushels, up modestly from last year on increased harvested area.  However, the harvest-to-plant ratio is down from last year with above-average abandonment in Texas, Oklahoma, and Kansas.  The average wheat yield, projected at 44.7 bushels per acre, is 1.8 bushels lower than last year.   Exports are projected at 725 million bushels, 50 million lower than last year.  Ending stocks are projected to be 11 percent lower than last year and the lowest in 16 years.  The projected 2023/24 season-average farm price is $8.00 per bushel, down $0.85 from last year’s record. The global wheat outlo...

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feed-grains soy-oilseeds wheat

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Although the soy complex and wheat opened lower, there was confidence in the corn number and by late morning most major contracts were in the green, aided by shorts that were selling at the end of the month to book profits. December HRS printed a new contract low today. There was high volume tr...

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The U.S. will celebrate Labor Day on Monday, 1 September, and the U.S. markets as well as our office will be closed that day. The next Ag Perspectives will be published Tuesday, 2 September.  ...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.2025/bushel, up $0.1025 from yesterday's close.  Dec 25 Wheat closed at $5.3425/bushel, up $0.0525 from yesterday's close.  Nov 25 Soybeans closed at $10.545/bushel, up $0.065 from yesterday's close.  Dec 25 Soymeal closed at $289/short ton, up $1.7 from...

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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.

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