The general attitude of the markets is that the world is “awash” in everything. It’s tough to argue that statement if looking at the absolute supply numbers (bushels or MTs). When considering stocks-to-use ratios and the annual expansion in world consumption, the view isn’t quite as bearish. This is especially true if factoring China’s percentage of world corn and wheat stocks into the equation, which are currently at about 42 percent and 47 percent, respectively, of the surpluses. Take China’s wheat stocks out of the world equation, and the stocks-to-use ration drops from about 36 percent to 22 percent. That isn’t far from the ratio of around 18 percent in 2007/08, which was the lowest in modern ti...
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.