The CBOT was mostly lower steady again as traders are comfortable with their current, post-WASDE positions and are reluctant to add risk. Wheat futures posted the largest gains of the grain markets with the KCBT contract looking to ration demand amid tight ending stocks. The SRW market and, to a lesser extent corn, followed suite and posted modest gains for the day. The soy complex struggled amid weak palm oil and crude oil markets and all three soy contracts settled in the red. Funds were net sellers of an estimated 7,000 contracts of soybeans while buying 5,000-6,000 contracts each of corn and wheat. The U.S. weather outlook is stabilizing after the recent tropical storm passed over most of the Delta and East Coast. The five-day pr...
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.