Almost everyone expected bearish corn and soybean numbers in today’s series of USDA reports, and that is what they were for the most part. If there was a bearish surprise, though, it came in the winter wheat acreage estimate. Southern Plains farmers apparently planted more hard red winter wheat than anyone expected, and that pressured wheat all day. Winter wheat acres will be lower than last year, but they will not be small enough to generate any buying. The trade was also expecting the soybean export forecast to be reduced, and USDA obliged by cutting 65 million bushels from the previous estimate. That was partially offset by a 10 million bushel increase in the crush forecast and a slight reduction in the soybean yield. Soybean endi...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.