The CBOT ended mixed in two-sided trade on Friday with the lack of significant changes in Thursday’s WASDE leaving the markets somewhat directionless. Wheat futures showed perhaps the greatest strength as the market finished 8-9 cents higher after pushing to new selloff lows, thereby forming a potential reversal on the charts. Corn and soybean futures were mixed but the oilseed market found greater strength due to a demand-induced rally in soymeal. Funds were net sellers of some 8,000 contracts of corn on Friday but bought some 10,000 soybean contracts and 4,500 contracts of wheat. Funds were also net buyers in soyoil as the market tries to form a bottom near technical support and secured some 14,000 contracts today. Moreover,...
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.