GOOD MORNING, Bean prices are rising this morning after China announced that starting Feb. 14, they would lower import tariffs on some US goods by half, with the Finance Ministry stating it would take goods with a 5% tariff down to 2.5%, with other goods moving from 10% to 5%. According to a Reuters article, China would halve extra tariffs on 1,717 US products. In the meantime, China continues to buy Brazilian beans since they are less expensive as harvest rolls along. Beans are stabilizing at current lows but it will take more signs of solid export activity to help futures into a larger rally. The markets still continue to grapple with uncertainties over the Coronavirus, and ultimately if it gives China an out to w...
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...
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.