Fund short-covering, worse-than-expected U.S. wheat conditions, and a hot, dry weather forecast for Argentina sent grains and oilseed futures sharply higher this morning. KC wheat gapped almost 3 cents higher at the start of the overnight and never looked back, finishing today up 16 cents. March Chicago wheat gapped higher in the overnight session too, though a brief mid-day bout of selling filled the chart gap. Corn and soybeans were higher overnight as well, though the fireworks were more prominent in wheat. Outside markets did not follow ags’ lead today, with the U.S. dollar falling 11 points as of this writing to 89.23, the Dow Jones index down 336 points (1.27%), and the S&P 500 off 24.2 points (0.85%). Of course, the...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.