Surprisingly, wheat was the market's leader today. More specifically, it was Chicago wheat leading the way after posting new contract lows and the lowest prices in four years yesterday. General Comments Finally, grain and soy prices stopped going down. After a series of new contract lows including those set yesterday for the spot contracts for corn, soybeans and Chicago wheat, prices turned to close mostly higher today. In fact, the only red closes on the board belong to soymeal and deferred (May 2015 and beyond) KC wheat contracts. We will not describe today's price action as a reversal since price gains were modest and further confirmation is needed. However, today serves as a reminder that markets are not on a one-way street and can go...
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.