Grain and soy futures traded higher overnight. Support came from lower weekly crop condition ratings for corn, soybeans, and spring wheat and higher prices for Paris wheat futures. Additional support came from a general strengthening of world wheat and feed grain prices as the disappointing EU and Russian wheat harvests wind down. Soybean futures prices bounced off yesterday’s losses and were up around 9 cents at the close of the overnight session, while Chicago wheat was up a dime and corn futures added about 2 cents. Things changed during the day session. There was a movement to unwind long corn/wheat versus soybean spreads by those traders who put them on in the wake of the Chinese soybean tariff. Motivation for the spread unwindi...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.