South American soybean prices moved lower last week, prompting U.S. exporters to take steps to remain competitive. Meanwhile, Argentine corn exporters are being squeezed by three factors. Soybeans Brazil The soybean market was quiet last week after the strong movement of the past few weeks. Chinese demand decreased as lack of origination made offers less aggressive. Nevertheless, the modest rally in CBOT futures allowed some spot offers to come out of Brazil. September shipments were offered at $1.00X FOB and $1.78X CNF China. Brazil traded some March new crop cargoes at $1.35-1.36H CNF at the beginning of last week, but the market was quiet afterward. Today March is offered at $1.36H and April at $1.29K.The Brazilian offers prompted U.S...
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.