Soybeans and soymeal posted a mini-rally at the close that took March futures to the plus side and brought November futures to a 4-cent gain on the day. General Comments Markets were slightly lower overnight, and that lower overnight trade turned to moderate losses for corn and wheat as the day wore on. Soybeans were also moderately lower at one point. However, the soybean market gradually clawed its way back toward unchanged as has been the case recently and closed the day higher. There was little fresh market news and little buying interest on a light volume trading day.This is a long holiday weekend in the U.S. with markets closed Monday for the Martin Luther King holiday. USDA reports next week will be delayed a day. Markets will not...
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.