The sharply higher basis levels for spot soybeans and the antics of the expiring August contract rippled throughout the rest of the soybean market and even had enough influence to cause some short covering of corn and wheat. General Comments The August contracts in the soy complex expired at noon CDT today. Who would have believed that August soybeans with a mere 192 contracts of open interest or August soymeal with just 63 contracts of open interest could generate such excitement? Even with such a tiny amount to be liquidated, August soybeans traded in a 75.5-cent range from up 35.5 cents to down 40 cents, which is where it settled as it expired. August soymeal headed in the other direction and settled up $45.50.Normally, we would not pa...
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.