Heading into next week’s (mercifully) planned USDA Crop Production and WASDE reports, a key focus of the markets has been forecasting the agency’s yield numbers. Over the past five years, USDA has exhibited a tendency to reduce its forecast of the corn and soybean yield, harvested area, and production figures from the September to the November reports. That shows a marked difference from the average change from 2000-2024, in which yields were generally revised higher and by degrees that offset larger cuts to harvested area estimates.
What is more interesting is looking at the yield trends by major cropping region. The five-year average yield change from September to November is negative for all the reg...
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...
