Low volume trade left CBOT grain markets to trade lower with little to encourage buyers to make purchases, despite prices being near contract lows. Improving/favorable weather forecasts for the U.S. and the Black Sea regions sparked modest selling in the grain complex. Livestock markets, on the other hand, traded sharply higher and to limit gains this afternoon as packers slowly reopen facilities. Deliveries against May futures remain very light overall, with no deliveries for corn, wheat, or soybeans today (and none for the month for soybeans and wheat). Soyoil deliveries have been the exception with 2,800 delivered so far. WPI’s research suggests the cash basis for soyoil is 41 cents/cwt right now, which is apt to encourage further...
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.