The CBOT was solely focused on the March WASDE report today and USDA gave the market little to trade on. Heading into the report, corn was experiencing minor liquidation while wheat futures bounced higher on short covering. Soyoil continues to be the star performer of the soy complex, rising to new highs seemingly every day. Markets were mostly quiet following the USDA’s report with the soy complex and wheat ending higher while corn posted modest losses. The CBOT is seemingly unwilling to selloff too much with the Brazilian and Argentine second corn crops under duress from drought/late planting and Chinese grain/oilseed demand at record levels. USDA left its U.S. corn, wheat, and soybeans balance sheets unchanged in the March 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.