It would not be fair or accurate to call wheat a minor U.S. crop, but it seems headed in that direction due to wheat prices that have been low enough to defy profitability in recent years as well as another factor.The array of reports from USDA on 12 January included its initial estimate of the seeded U.S. winter wheat area. This acreage was universally expected to be down substantially due to the chronically low wheat prices that prevailed last fall when winter wheat planting occurred. However, analysts were still surprised by the size of the decline estimated by USDA/NASS. Winter wheat acreage for the 2017/18 wheat crop year was put at 32.4 million acres, down from 36.9 million acres the previous crop year and more than 7 million acres le...
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.