The futures market’s choppy price action within relatively narrow price bands for the last several weeks is a sign that it is searching for price direction, something to drive prices out of their current ranges.It has been another, albeit minor, “Turnaround Tuesday” for grain futures markets, although soybean futures prices began to slip into the red as we wrote this about midway through the day session. The fact that futures price action for the last several Tuesdays seems to be the opposite from that of each preceding Monday is a strong signal that grain and soy prices presently lack direction. Turnaround Tuesdays are not unique. Grain and soy prices have been chopping back and forth in relatively tight ranges for many weeks with boring 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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.