The much-anticipated March WASDE featured mostly bullish news for grains and oilseed traders. Notably, the USDA reduced South American soybean and corn supplies by more than traders expected while giving the market some bearish news for wheat. The report did nothing to help the livestock markets, however, which were down early and did not recover. Outside markets are lower but largely irrelevant to commodities on this fundamentally-driven trading day. The biggest influencer is the U.S. Dollar Index which is up 55 points currently and back above 90. The Dow and S&P 500 indexes are slightly lower while COMEX gold futures are down $5/ounce and crude oil extends yesterday’s losses. NYMEX WTI crude oil is down 1.6 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.