THE OPEN July beans: 1 lower July meal: 1.60 lower July soyoil: 5 lower July corn: 1/4 higher July wheat: 6 1/4 lower The feature of the board on the open was that of falling meal prices into fresh contract lows as crush margins continue to leak lower. Oilshare firmed as meal prices trade to new contract lows and soyoil traded higher. Beans and meal trade lower off the closing of meat plants, with some fearful of larger problems to come. Corn was steady against a weaker wheat market, as traders unwound recent buy wheat and beans/sell corn spreads. Prices continued to lean lower as weather over the next week appears ready to improve for further planting progress. Today i...
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.