The soy complex started firm overnight on the warmer, drier weather forecasts, and Minneapolis wheat futures continued to charge ahead last night and today. General Comments Markets closed at 1 PM (EDT) today for the July 4th holiday in the U.S. and will not open again until 9:30 AM (EDT) Wednesday. That is also the day the weekly crop ratings will be released.USDA announced several daily export sales this morning, which included sales of corn and soymeal for MY 2017/18 and MY 2018/19. It also announced the sale of 70,000 MT of hard red winter wheat and 70,000 MT of soft white wheat to unknown.Today’s markets were again all about weather. The first map below shows precipitation over the last 24 hours, which was less than expected. The six...
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.