World Perspectives
energy

Energy Outlook

The U.S. Energy Information Administration (EIA) released its short-term energy outlook (STEO) earlier this month, with outlooks for crude oil, natural gas, and propane. The price outlook is for lower crude prices, higher for natural gas, and flat for propane in the Midwest, and slightly lower in the south, benefiting poultry producers.Crude oil production is forecast to reach 13.2 million barrels per day (MMB/D) in 2024. August crude oil production was 13.4 MMB/D, setting a new record, and surpassing the previous record of 13.3 MMB/D in December 2023. Through the first eight months of this year, monthly production has dropped below 13 MMB/D only once – in January after the record production of December 2023. The average production in...

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Summary of Futures

Please see attachment...

feed-grains soy-oilseeds wheat

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Except for soymeal and the livestock markets, the CBOT was lower on Wednesday with traders booking profits and taking a more cautious approach after the recent runup in prices. Too, rhetoric out of the White House is keeping traders guessing on the possible application of and retaliation to var...

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Please see attachment...

livestock

Livestock Industry Margins

Livestock industry margins were decidedly mixed last week with diverging trends developing across the industry. Beef packer margins gained for the second straight week thanks to stronger beef prices that offset higher fed cattle prices, while feedlot margins dipped for both placements and close...

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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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