THE OPEN March beans: 1 3/4 lower March meal: steady March soyoil: 25 lower March corn: 4 lower March wheat: 1/2 lower The markets opened as called with liquidation in wheat a major feature, as money flows gravitated towards beans. Funds were larger sellers of oilseeds last week, buying a few of those ctrs back today as China pledged to honor its commitments to buy beans regardless of the coronavirus. Buy bean/sell wheat trade and corn trade plus buy meal/sell soyoil futures were dominant themes for the day. Soyoil futures lost a few more bulls on the back of weaker palm, canola, and energies, which were getting hammered in today's market session. Today is day 2 of the Goldman Roll, so spread...
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.