GOOD MORNING, Prices are firmer this morning on weather, constructive chart price action, higher markets elsewhere, tenders, export restrictions, and harvesting delays in Brazil. The delays could possibly turn China back to the US for bean business in 2021 for a longer than usual time period. Brazil's bean shipments in January were 28 times lower than year ago at 49,500 tons, Brazilian trade data showed. Argentina's weather also turns drier over the next few weeks, which is supportive as well. Most of all, the funds have not changed their stance for grains and soy, maintaining long positions across the board. Beans and soyoil start the session with gap-higher opens, as soyoil sprints to new contract hig...
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.