THE OPEN Nov beans: 2 1/2 higher Dec meal: .50 higher Dec soyoil: 9 higher Dec corn: 3/4 lower Dec wheat: 2 3/4 higher Trade opened as called into the October USDA report, with more light positioning in front of the numbers on both sides of trade. Prices moved lower from the open for corn, while oilshare had an upside correction. Buy beans/sell corn trade was a key feature before the 11:00 report, which turned out to be a bit of foreshadowing of things to come post October USDA data. Poor export sales vs. good demand for beans lifted prices in that market, as did the fact that the storm moving through the Plains/Nebraska/Iowa may impact beans at this point more than corn. Buy...
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.