Demand for U.S. corn appears threatened by the Chinese rejections of corn shipments containing the not yet approved MIR162 GM event. Traders fear the volume of rejections will soon escalate. General Comments Trading overnight featured lower prices and moderate volume, but it did not quite prepare the market for the avalanche of selling that dominated the day session. Nor was today's weekly export sales report a harbinger of what was coming either. Last week's corn sales were about as expected, totaling 804,800 MT of which 695,400 MT were old crop. Soybean sales reached 1.5225 MMT including 1.1086 MMT of old crop, double what the trade had expected. Wheat sales of 382,900 MT were disappointing, but, in any case, pre-report expectations for...
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.