News came overnight that China booked two-three cargoes of soybeans from the U.S. PNW, despite yesterday’s indications that the Chinese government was suspending purchases by its state-owned enterprises. The USDA-confirmed sales boosted the soybean market and put the complex on a track higher for the day. Wheat futures were lower on near-term favorable weather for Europe and the Black Sea while corn was caught between soybean strength and wheat weakness. Fundamental news was light today, which left the markets to trade technical indicators and intermarket spreads more heavily. There seems to be growing consensus that the near-term outlook for spring crops is higher with technical considerations and, in the case of soybeans, sum...
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.