GOOD MORNING, Prices are mixed this morning with profit-taking in oilshare and grains firmer vs. lower beans and soyoil. Corn trades firmer on more possible planting delays and some lost acreage/replanting in areas of the saturated Midwest. Beans are lower as China is said to have purchased cargoes out of Brazil rather than US origin. Tensions between China/US over Hong Kong continue to spark some buy corn/sell bean trade. Soyoil prices turn lower as crude oil is pressured as OPEC is struggling to convince Russia to extend output cuts through the end of 2020. Before the open, the International Grains Council (IGC), raised the forecast for the 20/21 global corn crop by 11 mln tonnes to 1.169 bln to...
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.