The CBOT ended the week on a quiet note with wheat futures strengthening amid commercial buying and bull spreading while soymeal futures traded sharply lower following Wednesday’s key reversal. Corn was caught somewhat in the middle and settled fractionally lower for the day with more late-day strength observed than weakness. Soybeans followed the meal market lower as well, despite news that just 3 percent of Argentina’s soybean crop is rated good/excellent this week. Rains in Argentina and southern Brazil helped pressure the CBOT for the day but improved export sales data helped offer some support. Funds were net sellers in the soy complex and were flat corn but were modest buyers in wheat. The weekly Export Sales report...
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.