The market was expecting today's crop progress numbers to show that 50 percent of the U.S. corn acreage has been planted, but the total was higher. Meanwhile, the soybean story continues with a firm close overnight and a strong one today. General Comments Markets started steady to lower Sunday evening, but the soybean market didn't stay flat for long and traded 3-5 higher much of the night with corn and wheat a few cents lower. That pattern continued when the markets opened this morning and followed through to the close. Funds were light sellers of corn and wheat and buyers of soybeans and soyoil.Crude oil was firm overnight and traded as high as $59.73 in the June contract. It couldn't hold gains and finished just slightly lower. U.S. fi...
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.