U.S. Soybean Export Sales Down Sharply Last Week, But Exports Large Today’s USDA export sales report indicated exporters of U.S. soybeans, soymeal, and soyoil had a down week in terms of making new export sales. However, exports of soybeans were large. Net soybean export sales last week totaled only 406,900 MT, a marketing year low. That was 68 percent below the past four-week average. The top sales were for China (476,900 MT). However, of that amount 396,000 MT were switched from unknown destinations. The other top sales were for Thailand (82,400 MT), Vietnam (78,100 MT), Spain (66,900 MT), and the Netherlands (66,000 MT). Those sales and others were offset by reductions for unknown destinations of 539,100 MT. USDA reported a reduc...
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.