Soybeans and soymeal held their higher prices together during the day session, but the corn market struggled to maintain green numbers. The wheat market gave up on the effort and retreated back into the red about midway through the day session. General Comments Monday’s rally was continued in overnight trade. Even the wheat market managed to trade higher in what might be called a post-EPA announcement rally, although the EPA’s Renewable Fuel Standard (RFS) decisions were about as expected and should have been already priced in. We view the rally as more due to seasonal considerations than what the EPA announced, but small increases in corn-based ethanol and biodiesel mandates seem to sound bullish.Soybeans and soymeal held their higher pr...
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.