Overnight trading saw corn and soybean futures prices edge lower, while wheat values firmed a few cents. In truth, there was nothing around to inspire trade in grain or soy futures, and certainly nothing to encourage potential buyers except perhaps a few shorts wishing to even up their positions. General Comments From a macro viewpoint, the minutes of the last Federal Reserve meeting released today indicate a growing discussion among Fed officials over when and how to raise interest rates and begin tightening its multi-year, easy money monetary policies. Many of the heads of the world's central banks are in Jackson Hole, Wyoming for their annual gathering. Analysts will scan all of the speeches and comments for clues as to how the Fed mig...
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.
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...