Friday’s CBOT trade featured a late-week rally with wheat leading the way as traders now seem to believe that the April rains in the Southern Plains were insufficient to significantly benefit the HRW crop. KCBT futures posted 30+ cent gains for the day and corn and soybeans followed through with ample technical buying in their own right. Funds were net buyers for the day and covered some of the short positions they’ve recently built or expanded in the major ag products. The May WASDE next Friday will now be the market’s primary focus with the report expected to be bearish new crop corn and soybeans (and likely old crop corn too) while being bullish new crop wheat. The weekly CFTC report was in-line with expectations...
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.