Soymeal futures did not need today’s expanded trading limits that resulted from yesterday’s limit down closes, but they did fall roughly $18 at session lows before a rally in the last 90 minutes pulled meal contracts back near yesterday’s closes. That rally also triggered a remarkable recovery for soybeans. General Comments Following yesterday’s sinking spell, grain and soy prices traded on either side of unchanged at the opening of the overnight session. However, they soon headed south again as selling returned to press prices. Once again, soybeans and soymeal led the way down with the August soybean contract down more than 20 cents at the recess between overnight trade and the day session. Corn and Chicago wheat were off about 6 cents...
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.