Trade this week has been volatile to say the least with the November WASDE catching the markets by surprise but profit taking pressuring futures yesterday. Trade on Friday was more muted, but wheat markets rallied into the close as early weakness found strong technical support and end-user buying. Soyoil posted a strong bullish technical session overnight and traded higher through the day. That lent additional support to the soybean market, though soybean futures look to be consolidating now. Livestock futures were sharply lower as new longs liquidated positions amid cash market weakness. The latest forecasts from NOAA point to a deepening La Nina event for 2020 and 2021. Pacific Ocean temperatures are well below normal and the band of col...
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.