Pre-WASDE positioning and reactions to various tariffs and retaliatory tariffs drove much of the market’s action on Monday. The big news was China’s retaliatory tariffs against Canadian rapeseed oil, rapeseed meal, and peas, which will be levied at 100 percent of product value. That news sent canola and rapeseed futures in Canada and Europe, respectively, sharply lower and created selling pressure from which the CBOT soy complex could not escape. In grains, wheat and corn turned higher as traders adjusted positions ahead of the March WASDE report. Traders are looking for smaller U.S. 2024/25 corn ending stocks and consequently added a small volume of longs to their net position. Wheat stocks are forecast to be mostly the same as...
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.