World Perspectives

Economy Entering an Inflationary Period

The Federal Reserve Open Market Committee is meeting today and tomorrow, where it will revise its latest economic forecasts for the year and release its plan for short term interest rates.  At the June meeting of the Fed, the median forecast among the 17 Fed policymakers was that inflation would be 0.8 percent in 2020. Given the economic recovery to date and the growth in government spending, that will no doubt be too low. Also, in June the Fed’s projection of inflation in 2021 and 2022 was 1.6 percent and 1.7 percent.   From the growth perspective, according to the data from the Atlanta Federal Reserve Bank, Q3 growth could be near 30 percent. Economic reports so far show that consumer spending is outpacing productio...

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Summary of Futures

Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close.  Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close.  Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close.  Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...

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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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