The soybean and soymeal markets have been on a rather spectacular roll over the last 30 days as the rains never came to Argentina. That has recent estimates of Argentine soybean production tumbling from USDA’s February projection of 54 MMT to the latest number from the Buenos Aires Grain Exchange of 44 MMT. There are also a few private estimates as low as 40 MMT. While it always seems to be in the forecast, there hasn’t been any rain across much of Argentina in three to four months. It is now 2 March with still little or no rainfall in the outlook, and the yield game is about over. Brazil’s soybean crop, on the other hand, wants to get bigger. ABIOVE raised its estimate to 114.7 MMT yesterday, and the USDA February estima...
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.