GOOD MORNING, Prices are mostly lower this morning as the markets rallied high enough to draw some profit-taking from the bull as the week draws to a close. Funds who are short may adopt a wait and see attitude, particularly as far as the Chinese shopping list goes. As corn and beans neared new highs for recent ranges there were more reports of hedging interest and cash sales in beans over the last several weeks. Beans have been gaining on corn, as they are apt to do in the month of December, but today the spread has turned a bit as profit-taking in beans sends prices lower. The new bean/corn ratio hit new highs at 2.42, a situation that typically reverses as the calendar turns over from Dec 19 to...
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.