The CBOT opened on a weaker note with corn, soybeans and wheat trading lower Sunday night and into Monday morning. Monday’s opening bell, however, saw corn and wheat traded higher while selling pressure accelerated in wheat. The day featured mostly low-volume trade with corn ending slightly lower, wheat futures posting double-digit declines, and soybeans modestly firmer on another round of daily export sales. The USDA announced the sale of 132,000 MT of soybeans to China while Mexico secured 250,371 MT. WPI sources note that while China was an active buyer last week, non-China destinations were on the sidelines waiting for prices to cool down. As reflected in this week’s MERCOSUR Regional Analysis from WPI, South American...
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.