November 2020/21 U.S. corn outlook is for lower production, reduced feed and residual use, larger exports, and smaller ending stocks. Corn production is forecast at 14.507 billion bushels, down 215 million with a reduction in yield to 175.8 bushels per acre. Corn exports are raised 325 million bushels to 2.650 billion, which if realized would be record high. Projected feed and residual use is lowered 75 million bushels based on a smaller crop and higher expected prices. With supply falling and use increasing, corn ending stocks for 2020/21 are down 465 million bushels to 1.7 billion, which if realized would be the lowest since 2013/14. The corn price is raised 40 cents to $4.00 per bushel. Foreign corn product...
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.