Except for the wheat market, the CBOT and CME largely continued their existing trends on Wednesday. Wheat futures offered perhaps the most interesting trade as HRW futures reversed course from their recent weather-induced rally and pulled back. The spot KCBT contract settled below $6.00, which could trigger additional selling this week. In contrast to the KC and to a lesser extent Chicago markets, Paris wheat futures rallied with strong technical support. Corn and soybeans were mostly sideways or lower for the day as a general lack of news dampened trading interest. Cattle futures rallied to new contract and all-time highs as beef demand continues to support the bullish market sentiment. Overall, there is little to drive fresh fund buying i...
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.