THE OPEN March beans: 2 lower March meal: .90 higher March soyoil: 39 lower March corn: 5 14 lower March wheat: 4 3/4 lower The markets opened on the defensive with oilshare continuing to trade lower and beans on the defensive. Fund selling emerged quickly for beans, with more profit-taking in wheat on its corrective pullback. Buy corn/sell bean trade continued, as prices in corn continued to hold on breaks. The coronavirus continues to keep markets on edge, particularly equities. Chinese media noted that 902 cases have been confirmed, and 26 deaths are attributed to the virus. The virus has been found in 29 out of 31 provinces. In other announcements, Rabobank...
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.