After falling sharply from the wet weather highs, grain futures markets are quite oversold and due for a bounce, which is what they got today until wheat ran out of gas late in the session and slipped below Wednesday's closes. General Comments The Commerce Dept. reported that U.S. gross domestic product (GDP) growth in the second quarter was 2.3 percent, below expectations of about 2.7 percent, but still considered to be good enough to keep the Fed on track for a rate increase in 2015. The U.S. Dollar Index was up more than .6, although stocks were less impressed and were down most of the day before closing about unchanged. Crude oil was down about 20 cents.After falling sharply from the wet weather highs, grain futures markets are quite...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.