The CBOT tumbled again on Wednesday amid increased chatter about a near-term market top. July and November soybeans violated technical support at the open, which triggered sell-stops and left the soy complex as one of the weakest markets of the day. Corn and wheat were lower as well with 2021 production prospects rising. Private firms are continually adding to their corn acreage forecast (and, to a lesser extent, soybeans), which is keeping pressure on row crop rallies. Wheat markets were pressured today by surprisingly large yield estimates from the Wheat Quality Tour. Funds were net sellers for the day and this Friday’s CFTC report is apt to show significant long liquidation. The U.S. weather patterns are shifting favorably 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.