While the overnight market was all green except for soymeal, it was only joined by wheat in green by the end of today’s trading session. There were lots of lead changes for corn and soybeans, with narrow trading on both sides of nowhere. This led to some mini-whiplashes as the market calculated positioning ahead of tomorrow’s big USDA reports. The weather situation continues to provide some caution, with flooding in the northwest corner of the production belt, July heat and dryness in the east, and drought returning to the Black Sea region. Funds are huge net shorts despite the risks. They are focused on surplus U.S. stocks of wheat, corn, and soybeans that are projected to grow larger. World carryover of wheat and corn w...
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.