Adverse weather conditions in Argentina and parts of Brazil are starting to slowly change the dynamics of the corn market (or at least the world numbers). USDA’s latest estimate of Argentine corn production is 42 MMT, but some analysts are now thinking it could drop to as low as 36-38 MMT IF the 10-day weather forecast for very hot, dry conditions proves to be accurate. This is because the crop is in a very vulnerable stage of development. Weather in Brazil is also starting to impact that country’s production but for a very different reason. The more important corn crop there, especially for export purposes, is the safrinha or second crop. This is planted following the soybean harvest, which ongoing wet weather is now starting t...
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.