Upon detecting the sharp increases in WASDE estimates of world corn and wheat production/stocks, computer trading programs launched sell orders that quickly sent futures prices tumbling (also noted in today’s separate analysis). Wheat futures prices fell 8-10 cents, soybean prices dropped 15-16 cents, and corn was quickly down about 6 cents. The higher world supplies of corn and wheat were due almost entirely to increases in annual Chinese corn and wheat production/stocks estimates dating back to 2007. Cumulatively, these revisions led to very large increases in USDA’s November estimates of Chinese and thus world ending stocks from its estimates of just a month ago. Undoubtedly, these statistical increases catch the eye or the a...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.