CBOT ag markets were mostly higher as traders added risk premia to corn and soybeans heading into what looks like a dry weekend for the Corn Belt. Wheat futures traded lower in lackluster trade but broke technical support levels, setting up potential for lower trade early next week. Soymeal continues to establish itself as a strong bull market while spreading between that contract and soyoil pushed the vegoil lower. Overall, funds were net sellers in soybeans and wheat and are rumored to have secured some 6,000 contracts of corn. The weekly CFTC report showed funds emerging as major net buyers of corn, bunting nearly 80,000 contracts and emerging from the week as net longs. Funds were also bullish the soy complex, adding a total of 7...
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.