The CBOT traded a mixed day with wheat futures posting a strong rally and the soy complex falling back after a strong start. Corn futures were under pressure for most of the day but survived with only modest losses. Funds appeared to be selling corn on anything resembling strength while early soybean strength attracted long liquidation ahead of next week’s WASDE. Traders are expecting the WASDE to show larger export forecasts and smaller ending stocks, so WPI sees opportunities in pricing needs at current levels or getting long. Less than 20 percent of the U.S. corn and 13 percent of U.S. soybeans are left to be harvested, per this week’s Crop Progress report. Farmers harvested an additional 10 percent of the corn last we...
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.