Like corn, soybean futures contracts spent most of today’s trade posting green numbers. November soybeans were up as much as 13 cents at the day’s high before closing with just a 2.5 cent gain. Wheat futures, though, were a tower of strength today, comparatively speaking. General Comments Without weather concerns to drive grain and soy futures markets at least in the short term, markets seem likely to shuffle toward USDA’s 12 August WASDE in up-and-down trade without much direction. Certainly, that was the case today as the grains and soybeans posted gains overnight, enlarged those gains during the first part of the day session and then later saw prices retreat back near yesterday’s closes in the case of soybeans and corn. Wheat markets w...
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.