GOOD MORNING, Ag prices were sharply lower yesterday setting up the perfect scenario for a turn-around Tuesday day of trade. Prices are mixed this morning, lower where funds hold length, namely wheat and soyoil. Soyoil prices trade to new lows on the back of a sharply lower palm oil trade. Weaker world currencies are price negative, particularly for wheat today, where the Russian rouble is 2% lower vs. the US dollar. The falling currency favors Russian wheat exports which will weigh on US wheat. A weaker Brazilian Real has already impacted bean trade. Better condition ratings for winter wheat will weigh as well. The largest question remains if China can live up to its commitments given the extent of the impact of the Coronavirus. Ch...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.