The August WASDE has come and gone but markets are still digesting its implications. Wheat futures were higher again on Friday with funds continuing their buying program amid tightening U.S. and world supplies. Corn futures traded a relatively quiet day with profit taking pushing the market off the daily highs. Soybeans were unimpressed with the WASDE but found more excitement from today’s “flash” export sales news. The weekly CFTC data (which covers through Tuesday’s market close) saw funds emerge as stronger net buyers across the CBOT than expected. Funds added length to their soybeans, soymeal, and corn positions and, as expected, were large buyers in wheat. That trend likely only accelerated heading into the WAS...
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.