Soybeans Argentina Last week Argentina posted a few offers in the local market, although volume was small with the labor strike on Tuesday and Labor Day holiday on Wednesday. Farmers are willing sellers at higher prices. Harvest progress reached 59.3 percent last week, per the Buenos Aires Grain Exchange, and yields remain very good. Production is still estimated at 56 MMT, but some analysts suggest it could reach 60 MMT. FOB replacement is firm in basis terms, compensating for the CBOT’s recent drop. Trading houses now have negative elevation margins against the FOB market with replacement rising from -20N to 0N in just one week. May shipments were offered at -27N FOB last week (minimum 32.5 percent protein), but those levels hi...
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.