The wheat market ignored the overnight sale of French wheat to Egypt and rumors that India was preparing to offer another 500,000 MT to 1 MMT for sale from its burdensome stockpile. General Comments Today's pre-holiday markets were fairly active considering that many traders were already off for a nice long weekend. Wheat futures prices broke out slightly above their recent range on optimism that export demand for U.S. wheat is building. There are unconfirmed rumors of fresh sales of HRW to Brazil. The fact that Egypt bought a cargo of French wheat overnight did not deter the optimism.Export demand in the form of two cargoes sold to South Korea also helped support corn prices that managed to close 1 2 cents higher in light volume trade. S...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.