The soy complex was today's market leader, and soyoil futures set the pace. The catalyst has been a major move in the world edible oil market by China. General Comments Today's grain and soy complex markets were all about planting progress, weather and Chinese demand for edible oils. Outside markets had a mixed influence. Stocks were lower after their two-day rally in company with weakness in major stock markets around the world. Crude oil was sharply higher in response to unrest in Libya and an increase in Saudi oil prices for U.S. and European customers. The Saudi move was interpreted as an expectation of increased demand, and NYMEX WTI crude traded over $60 for the first time since last December. Oil futures prices have jumped 35 perce...
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.