Overnight trading opened mixed, but prices soon turned slightly lower. They were then quietly lower in slack trade durig the day session until the soy complex was awakened late in the session by an unexpected selling blitz in March soyoil. General Comments Overnight trading opened mixed, but prices soon turned slightly lower. Those traders who were still watching markets had little reason to do much of anything, and it showed. March corn held in a very narrow 1.75 cent range overnight with a volume of about 7,500 contracts. Dalian soy and corn futures prices continued their slide lower. Malaysian palm oil futures are stuck in an up-and-down pattern, and today was a down day to the extent of 29 ringgits. Prices remained under pressure as t...
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.