THE OPEN Nov beans: 4 1/2 lower Dec meal: .40 lower Dec soyoil: 23 lower Dec corn: 1 3/4 lower Dec wheat: steady Prices opened as called with buy grains/sell soy a key feature of trade. Continuing rainfall in the Northern Plains created sharply higher trade again for Minneapolis spilling over into Chicago wheat, while strong cash prices helped corn to firm. The soy complex drifted lower led by soyoil as traders booked profits on oilshare. Informa released 2020 crop projections as follows: Corn: 95.1 mln with a yield of 178.7 bpa, and production at 15.6 bln bu Beans: 84.2 mln with a yield of 51.4 bpa and production at 3.285 bln bu Wheat: 45.4 mln with a...
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.