U.S. wheat futures seemingly trade in a world of their own. Yesterday Chicago wheat lost 14 cents or so, and today it regained 8 cents or more. Why did those moves occur? General Comments Grain futures prices turned around on Tuesday (once again) to gain back some of Monday’s losses. Wheat futures were the day’s star with Chicago December wheat up 8.5 cents, MGE wheat up 8 cents and KC wheat up 4-5 cents. December corn closed up 4 cents. We did not include soybeans in the turnaround, although the January soybean contract did close in the green by a quarter-cent. More deferred months, March-November 2016, all closed with fractional losses. Soymeal closed slightly lower, and soyoil finished up about 30 points.We cannot point to specific rea...
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
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.