GOOD MORNING, Turn-around Tuesday is here and values are higher on a combination of short-covering, bargain - hunting, and pricing activity. July soyoil posts a new contract high, and bullspreads are higher. The markets are working into sideways trading ranges off the lows as support is being reinforced as chart prices work higher. The NOPA report was bearish beans but bullish soyoil. Processor bids are weakening with some markets 5-15c lower than week ago. Beans could falter on the drop in the US export pace, the lack of Chinese buying, and a quick planting pace. However, nearby supplies still remain well supported. Global export offers were flat for Russia and a bit higher for Ukrai...
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.