The markets started the day bullishly for corn and soybeans but with losses in wheat. Post the USDA WASDE report things changed. Larger soybean stocks flipped that market red but not until after some curious delay. And there was notable bull spreading that split the contracts. Soybeans, meal, oil, and lean hogs all took losses in the nearby contracts but obtained gains in the deferred; SRW was the reverse with gains in the nearby but losses from December onward. As usual, USDA only creeps in the direction of expectations but also had some curve balls today. Less old and new crop corn ending stocks pushed corn higher. More old and new crop soybean ending stocks pushed the bean complex lower. Wheat also had ending stocks taken d...
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.