GOOD MORNING, Prices are lower across the board this morning. The corn market had its best close since November, finally clearing multiple tops to post new highs on short-covering. Funds purchased an estimated 15K corn contracts yesterday but are still 120K short in the futures/options combined category. Rumors of corn business and the fact that it remains highly competitive over the next 6-8 weeks continues to put a positive spin to price. Cash was steady with spreads continuing to firm. July/Dec corn traded to even overnight. Beans cycle lower with China purchasing a total of 9.8 mmt of US beans this marketing year to date, with unknown for another 3.9 mmt. The Chinese gov. has yet to announce a...
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.