THE OPEN May beans: 11 lower May meal: 4.00 lower May soyoil: 23 lower May corn: 12 lower May wheat: 11 lower The markets opened lower as a result of the reversal trade, which set the tone for more profit-taking at the open as sell-stops were triggered. All eyes were on export sales this morning, though the holidays last week in China and Brazil set the stage for low expectations. Those expectations were met and exceeded, and the reversal trade was on. Meal gained on soyoil as oilshare saw profit-taking, which helped beans to come back from fresh lows. Barges are slowly returning to normal workloads after supplies were halted due to the cold weather extremes. For...
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.