THE OPEN March beans: 7 lower March meal: 1.70 lower March soyoil: 27 lower March corn: 1 1/4 higher March wheat: 1 1/2 lower The markets opened as called with spread trade dominant, as traders unwound previous buy wheat and beans/sell corn. The net short in corn and the prospect of corn turning more competitive (and China maybe purchasing some?), put the squeeze to the corn bear. Soyoil futures sold off vs. meal but the soy complex remained weak in general. Ahead of the deal signing on Wed., the US Treasury announced it would drop its designation of China as a "currency manipulator". At 10:00 export inspections were released as follows: Beans: 1,136,304 mt vs...
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.