The CBOT traded a mixed day with wheat and corn futures posting losses on moderate fund selling and buyers’ more cautious approach amid increased volatility. The soy complex, however, posted another day of strong gains with soyoil becoming the upside leader on a technically bullish day. Soybeans pushed higher but the March contract could not overcome resistance at $14.00. Soybeans are likely to turn sideways as traders evaluate the yield-depressing effects of drought in Argentina and southern Brazil as well as floods and delayed soybean harvests in northern Brazil. Moreover, many are wondering whether the $14.00 level will start to ration soybean demand. Today’s news that U.S. exporters sold soybeans for CY 2022/23 &ndash...
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.