Soybeans Market Overview The soybean market was very slow last week as it was shortened by the Easter-related holiday. It was even slower today as Monday is also a holiday in Europe with most of the freight departments, which are mainly based there, not working. A few cargoes were traded last week from Brazil to China. May traded at 115K CNF, while there was some demand for June FOB and CNF positions. The Brazilian real fell to 3.94 against the USD by the end of the week, although this did not stimulate much farmer selling. Low CME prices combined with low basis are hardly encouraging farmers to sell. Demand is mostly focused on nearby positions, leaving trading houses in a very uncomfortable position since they cannot buy positions in...
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.