The CBOT opened higher today with funds adding to their positions and covering corn shorts. The trade is positioning for the October WASDE, which, given the outlier nature of this year’s crop production cycle, almost certainly promises to be surprising. Traders are rolling November futures positions forward with December contracts also coming under readjustment fire. The Export Inspections report was bearish corn, despite an 11 percent increase in inspected volume from the prior week. The report was bullish soybeans with 38.2 million bushels inspection for export, well above the 33.8 million needed to keep pace with USDA’s latest projections. YTD inspections are up 17 percent for soybeans and 21 percent for wheat, t...
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.