Trading was subdued with the August WASDE looming Thursday at noon (EDT). There is a general sense that traders are seeking to lower risk exposure going into the report that is typically a market mover rather than place new bets on what it might maintain. General Comments Grain and soy prices firmed somewhat overnight with soybeans leading the way despite the 1 percent increase in the good/excellent categories in USDA’s weekly crop condition report, released late yesterday afternoon. November soybeans were up close to 8 cents at the trading recess, Chicago wheat was 4 cents higher, and December corn was up about a penny. Soybeans were able to stay in the green during the quiet day session, although the November contract closed well below...
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.