THE OPEN July beans: 10 higher July meal: 6.00 higher July soyoil: 20 pts higher July corn: 8 higher July wheat: 4 1/2 lower The markets opened as expected with new contract highs again noted for soyoil contracts which gained on meal. Wheat lost to corn, while bull traders continued to monitor price action in case of further technical weakness. Bullspreads strengthened for corn. At 10:00 export inspections are released as follows: beans: 308,818 mt vs. 244,059 mt (vs. an expected 175,000 mt ) wheat: 659,509 mt vs. 563,598 mt week ago (vs. an expected 450,000 mt) corn: 1,892.243 mt vs. 1,716,299 mt week ago (vs. an expected 1,750,000 mt Inspections were good f...
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
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.