Crude oil’s excitement of today did not spill over into grain or soy complex markets. Meanwhile, soybean export sales totaling 343,000 MT and the reports of more large-scale buying activity by China this week clearly show that price dips do bring in new demand. General Comments Reports from OPEC’s meeting in Algiers indicate that the cartel has decided to limit crude oil production in principle. However, this cap would apparently be set very close to the volume that OPEC members pumped during August, a level that would not appear likely to alleviate the global surplus. Nevertheless, this will be the first time since oil prices started to slide in 2014 that OPEC has decided to implement such a limit in an effort to prop up crude oil prices...
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.