China Lowers Soybean Import Estimate for March, Raises April China's Ministry of Commerce today lowered its estimate for that country's soybean import in March from 4.29 MMT to 3.66 MMT. At the same time, it raised its forecast for imports in April from 4.29 MMT to 5.71 MMT. The estimates are released twice monthly.The reduction in estimated soybean imports in March is not surprising considering the shipping delays in Brazil. It also is reasonable that arrivals in April would be increased because cargoes that did not arrive in March will arrive in April. China's CGNOC is now predicting China will import 59 MMT of soybeans this year. That is up by 1 MMT from it most recent forecast.It is not clear just how much Chinese demand for soymeal...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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.