The CBOT reversed course from its recent grains-rally-soy-complex-declines playbook as a (minor) thaw in Russia-Ukraine/NATO political tensions sent wheat lower for the day. Paris wheat led the way lower early Wednesday and all three classes of U.S. wheat futures followed suite. In contrast, the soy complex rallied sharply with 30+ cent gains in soybeans as news of worse-than-expected soybean yields in Brazil hit the market. Corn was, for the day, caught between the two influences but bull spreading and strong commercial demand helped push the feed grain higher for the day. Funds are thought to have bought some 15,000 contracts of soybeans today along with a modest 8,000 contracts of corn. Managed money sold some 12,000 contracts of...
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.