There is no question that the tone of today’s USDA reports is at least mildly bullish, and markets have reacted accordingly. However, it is worth asking what has really changed.USDA’s final corn and soybean production estimates were both lower than expected. Most observers anticipated slight increases based on the trend for big crops to get bigger. However, the national average yield and planted area for both crops were reduced. The corn yield was put at 174.6 bushels/acre, down .7 bushels/acre, and harvested acres were lowered by about 100,000. The soybean yield was lowered .4 bushels/acre to 52.1 bushels/acre, and harvested acres were down 300,000. Although yields were down from USDA’s November estimates, they still represent new records...
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
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.