Without the leadership of the soy complex, wheat and corn futures prices struggled to stay near yesterday’s closes before finally closing lower. Wheat gave back most of yesterday’s gains, while corn gave it all back plus a little more. General Comments When Monday is a holiday, Turnaround Tuesday happens on Wednesday. Corn and wheat were mostly a bit weaker in overnight trade. Soybeans traded both sides but eventually turned higher with the November contract hitting a new high for the post-WASDE move at $9.1975. Even though USDA announced another soybean sale to China, this time for 235,000 MT, the overnight enthusiasm was dampened somewhat early in the day session as soybean prices fell back to once again trade both sides. After mid-sess...
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.