THE OPEN November beans: 3 1/2 lower December meal: 2.30 lower December soy oil: 16 higher December corn: 1 1/3 higher December wheat: 6 1/4 lower The markets opened as called with mixed trade, but support came from higher prices in the Chinese Dalian market for corn and palm oil, while a flurry of business announcements kept sellers away in the bean market. Light profit-taking was noted at the open, and funds are now long grains and soy, and defending prices. Reports out of China reported that Dalian corn prices were sharply higher with some traders conjecturing that the typhoon that affected areas included stored corn that was possibly damaged. At 10:00 export inspections were r...
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.