Grain and soy futures prices have been relatively quiet and range-bound lately with the exception of soyoil. Soyoil futures were trading slightly lower yesterday, but this follows six straight higher closes in pursuit of palm oil amid the buoyant outlook for edible oil. The spot August soyoil contract added about 200 points during this rally. Traders usually look for an early to mid-summer seasonal rally in the corn market in response to some sort of crop scare, but we fear that rather quietly and quickly, this seasonal rally has come and gone. December Corn hit its recent low of $3.235 on 29 June, and it hit a high of $3.63 on 2 July, a swing of almost $0.40 in just three trading days. That is a pretty high level of acti...
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.