Three countries are expected to reduce their soybean planted areas in favor of other crops, but another is forecast to increase its production of the oilseed. Argentina Reduces Estimate of 2017 Soybean Crop Argentina’s Ministry of Agriculture last week lowered its estimate for the 2017 soybean crop from 57 MMT to 55 MMT. This was based on a larger planted corn area at the expense of that planted to soybeans. USDA currently is estimating the Argentine soybean crop at 57.8 MMT. The ministry estimates Argentina produced 49.5 MMT of corn in 2017, up from its earlier forecast of 47.5 MMT.The move to a smaller soybean area and greater corn area is not surprising. Farmers had a substantial incentive to plant this way after President Macri elimi...
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.