SPREADS Most of the price action Friday and over the next 4 days is likely to be that of index fund spread activity. March corn futures were down 47,492 contracts Fri. with May up 29,245 contracts. Total open interest in March corn stands at 549,785 vs. May at 329,633. March bean open interest was down 17,790 contracts with May up 16,629. March bean open interest stands at 321,739 vs. May at 209,015. July/Dec corn trades from 1 1/4c to 2c while March/May trades from 4 3/4c to 5 1/2c. July/Nov beans trades from 10c to 10 3/4c, and vs. wider values week ago. March/May beans trades from 12 3/4c to 13 1/4. March wheat/corn trades from 1.73 1/2c to 1.79c . May crush falls to 98c/bu as...
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.