GOOD MORNING, The markets are mixed this morning as wheat is sharply higher against lower prices elsewhere on the board. Wheat prices are higher with Russian announcing they would strictly limit wheat exports in Q2 2020, with exports possibly stopping as soon as mid-May. Adding some concerns to supply, Russia's IKAR lowered wheat production from 77.2 mmt from 79.2 mmt due to dry weather conditions. IN lieu of this, Russia's supply could be tighter, restricting them from participating in tenders which makes the US more competitive. Crude oil prices are down $7.00 to $11.04/barrel, the lowest level since 1999, which is impacting the energy related markets corn and soyoil, both of which are lower.&nb...
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.