Today was Turnaround Tuesday after commodity and equity markets closed deeply in the red yesterday. CBOT products found support in the overnight session and corn, soybeans, and wheat all managed higher closes. Soybean futures even managed to rise 5.5 cents in overnight trading. The day session featured soybeans jumping out to an early lead on more dryness in Argentina and the fact that overnight rains failed to bring any substantial relief. The drought in the U.S. plains is worsening, adding to production concerns in the wheat markets. In total, there were few sellers at the CBOT today, even as CME livestock futures headed lower. As of this writing, U.S. stock indexes are slightly lower with the Dow off 92 points (0.5 percent)...
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.