GOOD MORNING, Funds were sellers yesterday, figuring the market has met some key upside objectives, but the markets are not giving back much this morning. All have traded both sides of unchanged. Export sales and ethanol still remain negative for corn, but the tighter stocks number Monday negated some of that bearishness. Still, funds probably hold an estimated 100K short in corn. Beans are mixed but meetings between China/US are to take place this month on the 10th, same day as the USDA October report, creating more unknowns for a bean bear. Beans stocks are ample, but the trend has seen tightening. Wheat prices move around following the path of Minneapolis, which fell to new lows yesterday with a long drop of 30c off its highs. As to Chi...
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...
Illuminating the value of technical research
On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.