Global food security is supposed to be broadly at risk but acute tightness in grain stocks is more limited to wheat. Global rice stocks are about the same as in 2020/21 yet rice prices are 23 percent higher this year. Similarly, world soybean stocks will be about the same as in 2020/21 and will expand by 16.8 percent this year, yet season average soybean prices are forecast one-third higher than two years ago. World corn ending stocks are larger than two years ago, but season average corn prices are predicted to be 49 percent higher. The world’s wheat stocks will drop 4.5 percent from last year and the lowest since 2016/17. Wheat prices deserve to be in the stratosphere this year. These data ignore stocks to use ratios but thos...
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.