For corn, Argentina still needs to put on program for October and December, but demand is not ready to buy at the current premiums. If this continues, it could impact carryover stocks, and the situation is even more complicated in Paraguay. Soybeans South American soybean markets saw light trading action last week and are quiet to start this week. The most notable action last week was China’s purchase of several Pacific Northwest (PNW) cargoes for October shipment at $1.45-1.50X CNF, showing that the U.S. is by far the cheapest origin. Argentina’s soybeans are priced at least 10 cents a bushel higher, while Brazil and U.S. Gulf are 15-16 cents higher. Chinese demand remains focused on the spot market where crush margins are good. The mark...
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.