Corn After a few months of drought putting a check on Argentine corn production, the weather pattern has consistently shifted towards more favorable patterns since 2020 started. Additionally, good rains in January and early February further helped. Presently, 90 percent of the corn crop has optimal moisture conditions and 97 percent is rated fair/excellent. Planting has advanced to 98 percent of the expected area. With weather patterns normalizing, there is no reason to anticipate a crop less than 49-50 MMT. As harvest nears and shipment periods for new crop corn inch closer, the market is becoming more interesting. There are interested volumes moving in the FAS market with prices similar to the past few weeks ($145/MT for Mar...
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.