General Comments Soybeans were the story of the day as people tried to figure out why they went from trading down 5-6 cents when markets reopened at 8:30 a.m. to falling to 25-30 cent losses by mid-morning. It was also interesting that the collapse in the soybean and soymeal markets had little or no spillover impact on corn or wheat. The selling was triggered, according to some accounts, by a weakening meal market coupled with some weakness in soybean basis. Once prices started to decline, it didn't take long for a wave of technical selling to develop and it was game over.Corn and wheat markets were very quiet relative to the soy complex, but then many in the market have been wondering how much longer soybean prices could almost comple...
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.