Weather across the U.S. and Canada provided most of the impetus for today's strong rally in wheat. Corn tried to follow wheat higher, while soybeans had a very quiet trading day. General Comments Markets were steady to a bit higher overnight, led by wheat with corn and soybeans simply trying to follow. We started the week with weather concerns regarding the U.S. and Canadian wheat crops. It is raining too much on a maturing hard red winter wheat crop in the southern Plains, while the northern Plains, especially the eastern Dakotas and western Minnesota, received another 2-5 inches over the weekend. The bigger problem was that as this rain system pulled out, it brought in some freezing temperatures across southern Saskatchewan and Manitoba...
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.