GOOD MORNING, The overnight markets were in correction mode for the PM session, led by wheat as better weekend rains were noted. The markets closed mixed, and spreads are firming again. The markets remain in technically driven mode and still have the fundamentals to back a bull market move. Surprisingly, funds actually lightened up last week and may be waiting for a larger break post May 12 USDA report to add back length. Strategy is everything. Good crush margins, overall demand and higher vegoil prices keep values on the up and up. Over the weekend Egypt tendered for 30,000 mt of soyoil and 10,000 mt of sunoil for July arrival. Spreads were lower last week but should see some adjustm...
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.