Overnight trading of CME grain and soy futures was more active than has been the case for much of the last several weeks. Due to the Monday holiday in the U.S., last night was the first opportunity for some traders in Asia and elsewhere around the world to respond to USDA’s reports of 12 January. Trading began after a spotty weekend of weather for Argentina and Brazil. The predicted rains did fall over Argentina, and some locations benefited from good amounts. However, they were disappointingly light over quite a number of other areas. Forecasts for the northern half of Brazil indicate warmer and drier conditions than normal for the next 10 days. Soil moisture should be adequate for now, but it will be rapidly lost if the forecast is...
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.