The WASDE report was largely neutral but the bulls got ahead of themselves beforehand and then got put on the defensive after its release. The WASDE didn’t provide any real news except it set up expectations by the bulls that surely USDA’s January report will make upward adjustments to U.S. soy and corn exports, and perhaps downward predictions about prospective South American output. When the report failed to meet expectations, profit-taking ensued with the hope of buying back in later at lower levels. The day was not a total bust, certainly not in the wheat pits, but it reminds us that expectations and official reporting often do not align. For that matter, official reporting often does not align with its officialdom. USDA st...
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.