The CBOT was mixed again as the central U.S. weather forecast improves. Corn and soybeans traded lower for the day with soybeans posting larger losses as the ongoing collapse of soymeal weighs on the complex. Conversely, stronger energy and palm oil values helped soyoil rally for the day. Wheat futures continue to find support from hot, dry weather forecasts for the PNW and northern Plains that will cut U.S. supplies significantly this year. Funds were net sellers in soymeal and soybeans, flat corn, and modest net buyers in wheat. The coming week will offer meaningful precipitation for the Corn Belt, especially Iowa where rains are badly needed. Notably, however, the PNW remains bone dry while North Dakota and northern Minnesota are...
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.