Markets were lower in the Sunday evening session as the hangover from last Friday’s bearish USDA corn and soybean numbers continued. The wheat numbers that day were actually supportive, but wheat was the weakest market overnight and again today with double-digit losses throughout most of the day session. Funds were long going into the reports and have been heading to the sidelines. They were reportedly long 52,000 contracts of Chicago wheat to start this week while short 67,000 contracts of corn and 85,000 contracts of soybeans. Weather was also slightly better in today’s extended outlooks. Temperatures will be back to normal or even below with normal precipitation. However, they are expected to heat up again next weekend. Ther...
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.