GOOD MORNING, The rally from yesterday continued overnight for all the markets except for wheat. After the close, the FSA acres were a bit of a surprise, which could have created further buying activity on top of the positive technical price action after the August WASDE report was released: Prevent plant for corn: 5.375 mln acres (1.74 mln in North Dakota and 0.9 mln in South Dakota). Only 81.122 mln corn acres have been certified with NASS so far vs. 85.44 mln year ago. Prevent plant for beans: 1.223 mln acres Prevent plant for wheat: 1.194 mln acres USDA reported 2020 failed acres as: wheat as of July 31, 2020 at 421,198 acres bean as of July 31, 2020 at 16,650 acres corn as of July 31, 2...
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.