Overnight trade in grain and soy futures was seemingly frozen in place by the soaring U.S. dollar. However, trading was a bit more active during the day session with corn and soy prices initially supported by the large export sales volume last week. General Comments Overnight trade in grain and soy futures was seemingly frozen in place by the soaring U.S. dollar. Wheat and corn prices were not much changed in limited volume. Soybean prices were also flat, but trading volume was somewhat better than for the grains. The Fed’s aggressive projection of future increases in the fed funds rate pressured other currencies around the world. The Chinese yuan fell to the lowest level in several years. Meanwhile, Malaysian palm oil was up 60 ringgits...
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.