U.S. wheat supplies for 2017/18 may be down 25 percent or more, but USDA’s August forecast that world ending 2017/18 wheat supplies will climb to more than 264 MMT is enough to keep prices on the defensive and end users on the sidelines. General Comments Grain and soy markets have been beaten up since the bearish 10 August WASDE was followed by a change to better weather, but markets cannot go down forever. That seemed to be the reasoning that prompted enough buying interest to turn prices ever so slightly higher in overnight trade. Soybeans were up about 4 cents, while winter wheat and corn contracts picked up around 2 cents. While not big of course, they were nevertheless gains. Things changed during the day session with corn and wheat...
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.