THE OPEN July beans: 6 3/4 higher July meal: 1.70 higher July soyoil: 11 higher July corn: 2 3/4 higher July wheat: 1 1/4 higher The markets opened in line with trade expectations, with oilshare leaking lower and beans printing new highs for the move up. Meal prices were steady but confined to recent ranges. Grains turned two-sided into the early part of the session, with funds returning as net sellers at the open. Buy beans/sell corn trade emerged at the open, with pullbacks in the bean market holding nicely. End -users remain patient as the main trends are still lower, and prices for the most part remain at the lower end of ranges. Frost concerns are now in the rear...
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.