GOOD MORNING, The markets continue to digest the WASDE information released on Tuesday having made new highs, but in corrective mode today along with weaker cash and outside markets. Offers at the PNW and Gulf were lower after the rally to 15-month highs, with cash corn down by 4c and beans down 8c. Spreads are weaker as the Goldman Roll concludes its run. Wheat prices broke lower yesterday triggering sell-stops under $6.00, with Russia clarifying that their exports would not be as restrictive as before. Headlines on Wed. said that Russia's grain export quota over the second half of its marketing season could be set at 15 mmt, but offered no other information as to when the quota would go into effect.&...
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.