Aside from seasonal considerations, there are plenty of other outside influences in play that can move grain and soy futures prices, mainly higher in the short term.The Labor Day holiday weekend is over, which is generally considered the practical end of summer despite the calendar indicating otherwise. Temperatures are trending cooler, children are back in school, and college football is underway with the pro games soon to follow. Labor Day usually also signals a transition for the principal spring-planted crops of corn and soybeans with their growing season all but over. Harvest is or should be well underway in the Deep South and off to a start in the Mid-South. There may even have been a little corn harvested in southern parts of Illinoi...
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...