GOOD MORNING, Prices are mixed today as higher energies add support to corn and soyoil. Soyoil futures are higher, but the basis is falling apart, as lack of rail storage continues to plague the industry. Illinois soyoil basis now trades below a year ago, and below the 5-year average for this date. Wheat prices are lower after making a comeback yesterday as rains arrive to relieve European wheat, and US crop progress indicates that the crops are in good shape. Beans bounce in step with firmer soyoil. Chatter had it that crops had gone into the ground at a faster pace than average, confirmed by the crop report yesterday. Beans continue to suffer from China out on holiday, (back on Wed., but probably moni...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.