THE OPEN Nov beans: 2 1/4 higher Dec meal: .80 higher Dec soyoil: 9 higher Dec corn: 1/4 higher Dec wheat: 4 1/2 lower The markets opened as called with soy complex values higher and wheat prices weighing on corn. The commitment-of-trader's report should now show funds short across the board. Major trends were that of buy soy/corn and buy soyoil/sell meal. In the fundamental world, more trade estimates were released today that were price negative for corn, with beans more than willing to follow lower. IEG Vantage, formerly called Sparks, forecast the following in front of the Sep USDA report: Corn: yield at 169.6 bpa and production at 13.857 bln bu vs. 13.847 bln bu prev. e...
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
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.