The September WASDE is typically one of the most volatile reports of the year with USDA’s “objective yield” assessments of corn and soybeans prone to elicit strong market reactions. This year was no exception as the market misjudged USDA’s plans for the soybean yield and ending stocks, and had to scramble to rally and ration new crop demand in light of the new information. Soybean futures ended 76 cents higher for the day and are technically poised to rally further. Corn futures posted 9-13-cent gains as well and are also ready to challenge key technical resistance levels. USDA didn’t change its expectations for the 2022/23 wheat crop and that market generally drifted lower amid some pressure from bull corn or...
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.