GOOD MORNING, Funds purchased a good chunk of corn on Tuesday to the tune of 30K contracts. The gap-higher trade in corn Tuesday implied that there was some panic-buying from not only funds who had to cover shorts, but from end-users willing to raise their ideas as they now felt they had to chase prices. This is something not seen in corn since prices bottomed out after the August WASDE with December prices at $3.20. The gap in corn this week showed that old shorts were throwing in the towel as prices jumped to new highs. Grains are weaker this morning as some of the panic-buying subsides. Corn prices may begin weaker, but China has been buying this market, and in lieu of a drop in ratings the $3.50 may...
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.