The CBOT ended the week on a mixed note with wheat and soybeans grinding lower while corn saw mild strength. The big movers for the day were soymeal, which scored new contract highs not once but twice, and soyoil, which plunged lower amid a crude oil selloff. There was a strong sense of profit taking in markets other than soymeal and an air of caution as many markets are at or approaching major technical resistance levels. After a volatile week, traders had limited appetites for new risk and trading was generally a low-volume affair. This week’s trade took corn, soybeans, wheat, and soyoil to major technical support or resistance levels heading into Wednesday’s WADSE report. That means the report could have a larger-than-n...
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.