The CBOT traded mostly flat today with conflicting impacts of slow corn exports, steady soybean shipments, weather that is favorable in the near-term but deteriorating in the long-run and improving dryness in South America. The bottom line is that the U.S. and the world have enough corn/soybeans/wheat that demand does not need to be rationed but additional harvested bushels aren’t so burdensome that the market needs to signal combines to stop running. The market is now in a phase of continual, minor adjustments to slowly changing supply and demand forces. Outside markets were higher with a boost from Q3 earnings while crude oil got a boost from EIA’s report that showed a 1.7-million-barrel decline in crude oil inventories...
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.