The CBOT opened higher with soyoil following through on yesterday’s upside breakout and charging to new highs. The latest Argentine weather forecasts are threatening the corn and soybean crops there, which helped CBOT futures higher as well. Corn and soybeans posted solid gains with supportive technicals and speculative traders hesitant to be short heading into a weekend of hot, dry weather for Argentina just ahead of the March WASDE. Wheat futures struggled as the U.S. dollar strengthened and traders used the commodity as the sell-leg of soy/wheat and corn/wheat spreads. For Friday, funds are thought to have bought 10,000 contracts of soybeans, 12,000 of corn, and 3,000 of wheat. The Argentine weather is once again the key var...
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.