Brazilian soybeans traded at $1.70X CNF for September at the beginning of the week and moved as high as $1.81X for the same position. On the FOB market, Brazil traded at $0.89X and later in the week at $0.95X FOB Rio Grande. All trades were for one particular destination. Soybeans Brazil The soybean market has experienced good movement on the spot as Brazil is competing with U.S. Gulf. All origins traded spot positions (mostly September with some October), and daily basis increases were noted. Demand from China suddenly decided to cover these positions, buying soybeans from any origin. The big carry observed several weeks ago turned into an almost flat market, and there were some signs that the market is starting to invert as it was in t...
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.