GOOD MORNING, Prices are mixed this morning with corn gaining on wheat, and meal on soyoil. Soyoil futures were supported yesterday by the news of $100 mln in USDA grants for biofuel and ethanol infrastructure and to promote consumption. Soyoil futures weakens today on lower palm and falling crude, which appears to have hit a temporary peak. Beans continue to trend sideways supported by the prospect for more business announcements, and return of China to the market. Since April 17, there has been a cumulative total of 1.602 mmt of bean sale announcements split between Mexico, China, and unknown. China officially comes back from holiday today, but no doubt they have been monitoring bean prices as they sit on re...
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
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.