The Federal Reserve Banks issued the first Beige Book for 2019 on 16 January. The report is published eight times per year (the previous release was on 5 December 2018, and the next will be in March). Each bank gathers anecdotal information on the current economic conditions in its district by sector, including agriculture, which is sourced through reports from bank and branch directors, economists, traders, and industry. Given the dearth of market information from USDA due to the month-long government shutdown, there is a heightened interest in this month’s Beige Book. The biggest concerns in the ag economy were trade issues, especially for soybeans; large supplies, particularly in dairy and hogs; and soft energy prices pushing down...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
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.