The July WASDE conveyed an overall bearish tone for the grains, but it was mildly supportive for soybeans. As expected, it diverted market attention away from weather for only a few minutes. General Comments Grain and soy futures prices softened a bit in overnight trading as the market awaited USDA’s July WASDE at noon (EDT) today. Some additional overnight showers stretching from Iowa across northern Illinois into Wisconsin, northern Indiana and Michigan added further pressure on prices. When trading recessed, corn was down about 5 cents, soybeans were off close to 9 cents, and all three wheats were lower as well. Prices hung around similar levels during the day session ahead of the WASDE release. The Chicago trading crowd was no doubt i...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.