The CBOT opened with wheat leading the way higher, soybeans firming with support from soyoil and short covering in soymeal while corn established itself as the sell-side of spreads. Wheat futures rallied on concerns that Russian production may fall as well as short-covering and long hedges being placed. The U.S. weather outlook features heavy rain for the U.S. Plains, Delta, and Southeast this week with some precipitation extending northward into the Ohio Valley. Precipitation across the Corn Belt and northern Plains will be modest and should be favorable for crop development. Temperatures are warm and continue to offer a favorable outlook for the 2020 U.S. crop. Outside markets were higher on Wednesday with U.S. equities rallying,...
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.