After uninspiring overnight trade, grain and soy prices did manage to climb higher soon after the day session began. Soybeans and meal were supported by fund buying and the expectations that still competitive U.S. soybeans will be able to snag more export sales over the next four-six weeks. General Comments Grain and soy markets were unable to sustain rallies in uninspiring overnight trade. They were a bit lower when the break in trading came along. However, prices did manage to climb higher soon after the day session began, but they did not do much thereafter. Still, corn, soybean and wheat prices did hang onto the early gains, and each closed up several cents and near the session highs. Soymeal also closed higher by more than $3.00, but...
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.