Wheat: Net sales of 187,600 metric tons were reported for delivery in marketing year 2019/2020. The primary destinations were Algeria (59,900 MT, including 60,000 MT switched from unknown destinations and decreases of 100 MT), Yemen (58,400 MT), Japan (38,700 MT), Mexico (31,600 MT, including decreases of 20,600 MT), and Guatemala (30,700 MT, switched from unknown destinations). Reductions were reported for unknown destinations (83,900 MT), Indonesia (65,500 MT), and South Korea (6,500 MT). Exports of 431,000 MT were primarily to Indonesia (84,500 MT), the Philippines (65,900 MT), Mexico (61,100 MT), Iraq (52,500 MT), and Vietnam (43,000 MT). Corn: Net sales of 38,400 MT for 2018/2019...
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.