GOOD MORNING, Prices continued to work lower post beneficial crop progress numbers. Rising domestic and international crop estimates for wheat, (Russia and Australia), pushed prices lower. Egypt tendered for 60,000 mt of mill grade wheat for Sep 11-30 shipment. Large yield ideas for corn and beans took aim at prices as well. Corn posted contract lows, wheat and beans found the lower end of trading ranges. December soyoil backs up to test the 31c benchmark, in a retracement from new market highs. Oilshare, in other words, takes a breather. Better weather and ideal conditions saw better farmer movement as prices traded weaker. Farmer selling has been reported as farmers clear space for big cro...
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.