The current mood of grain and soy futures markets seems mainly unaffected by details of planting progress and beneficial weather as today’s price action demonstrates. Trading is dominated by technical charts and momentum signals that were set in motion several weeks ago. General Comments As of 15 May, the U.S. corn crop was 75 percent in the ground and U.S. soybeans were 36 percent planted, both of which were slightly above average for the date. After some early week showers, the Corn Belt will turn drier and warmer for the next several days, which should allow for further progress. Next Monday’s weekly report from USDA should show corn planting near 90 percent and soy planting at 60 percent or higher. With no signs of pending adverse wea...
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.