It started out as a risk-off day across the board but then there were some acquisitive moves as time progressed. Things turned positive for grains but not for most of the soybean complex; things turned positive for lean hogs but stayed negative for live cattle; and the S&P 500 turned positive even as the Dow stayed in the red. Overall, the futures market has flipped. It was once buying soybeans while selling corn. Then it was buying wheat but still dumping corn. The funds are still short 130,000 corn contracts but are having to adjust to a market that has now become buy corn while selling wheat and soybeans. The market also appears to be focused on wait and weight – wait for the weighty purchasing impact of China based on...
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.