Less than one month ago, the HRW and HRS leading contracts were at their record lows. The SRW leading contract hit its record low at the start of the marketing year. All three contracts are up as cumulative U.S. wheat export bookings are 7.3 percent ahead of the same period last year. However, the export picture changes as one looks at each class of wheat. For example, cumulative SRW bookings are 4.7 percent below a year ago and behind the five-year average. Cumulative SRW exports are down 41.2 percent with weekly net export sales trending down. Yet, the SRW price has climbed the most from its contract low in June, up 15.6 percent. Meanwhile, HRW weekly outstanding export sales are up 35.1 percent year over year and cumulative booki...
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.