In a March WASDE report that made very few substantive changes to the supply/demand balances, it is difficult to find any notable highlights about the current situation. However, the report does remind us of a few shifts that have occurred over time. First, the U.S. continues to hold most of the corn excess stocks in the Americas. Brazil and Argentina held relatively larger shares in 2013/14 and 2015/16, but now hold about 18 percent of the surplus despite increased storage capacity. Meanwhile, the U.S. is holding relatively little of the surplus soybean stocks amongst the three major exporters, which is a return to the norm of just a few years ago. As other analysts have noted, the relatively few surplus soybeans held by the U.S. may forc...
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.