The Market Improved weather in Brazil took its toll on soybeans this week, taking Chicago prices down 5.75 cents to $13.25/bushel for the January contract. Pricing last month was steady and should remain that way based on tight stocks and solid demand, but that will require Brazilian weather to return to some dryness. It was soymeal that took the real beating. Losing $21.40 for the week in the January contract and now priced at $412.70/ST, slightly below the low in November. By contrast, January Soyoil added 1.16 cents this week to end at 51.45 cents/pound. DOE reported that soyoil used in biofuel increased 29 percent in September to 1.21 billion pounds, the fifth straight month of over a billion pounds going to fuel. And USDA reported lat...
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.