World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: Grains Fall After Bullish USDA Reports; Panic Not Finished in Cattle Markets

The CBOT was mostly red on Monday with traders seeing little reason to buy the soy complex after a benign and semi-bearish Grain Stocks and acreage reports for soybeans. Further, they saw little reason to keep buying corn and wheat amid large on-farm stocks and amply supplied global balance sheets for 2024. The day’s trade seemed to feature resignation to the bearish outlook for soybeans with a more tempered outlook for grains following Thursday’s bullish surprise. The livestock markets, however, were far from calm with the lean hog market jumping to new contract highs while cattle futures collapsed on news of highly pathogenic avian influent (HPAI) in Michigan and Idaho dairy farms.  One of the biggest news items on Monda...

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feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.2875/bushel, down $0.0475 from yesterday's close.  Jul 25 Wheat closed at $5.6775/bushel, down $0.065 from yesterday's close.  Jul 25 Soybeans closed at $10.68/bushel, down $0.0675 from yesterday's close.  Jul 25 Soymeal closed at $284.1/short ton, down $...

livestock

Cow-Calf Profitability Improves, Indicates Herd Rebuilding

Southern Plains cow-calf producers’ margin outlook continues to improve despite the recent pullback in feeder cattle prices. Returns on an inflation-adjusted basis remain below those of 2014 and 2015 but are now within striking distance of those records and could easily break them this fa...

WPI Transportation Report

Dry Bulk Markets Dry bulk markets were mixed this week with Capesize vessel rates initially pushing higher, but then failing on reduced coal, iron ore, and bauxite demand and shipments. Rates for Capes were particularly sensitive to China’s weakening coal import demand and the country&rsq...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.2875/bushel, down $0.0475 from yesterday's close.  Jul 25 Wheat closed at $5.6775/bushel, down $0.065 from yesterday's close.  Jul 25 Soybeans closed at $10.68/bushel, down $0.0675 from yesterday's close.  Jul 25 Soymeal closed at $284.1/short ton, down $...

livestock

Cow-Calf Profitability Improves, Indicates Herd Rebuilding

Southern Plains cow-calf producers’ margin outlook continues to improve despite the recent pullback in feeder cattle prices. Returns on an inflation-adjusted basis remain below those of 2014 and 2015 but are now within striking distance of those records and could easily break them this fa...

WPI Transportation Report

Dry Bulk Markets Dry bulk markets were mixed this week with Capesize vessel rates initially pushing higher, but then failing on reduced coal, iron ore, and bauxite demand and shipments. Rates for Capes were particularly sensitive to China’s weakening coal import demand and the country&rsq...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.3275/bushel, down $0.0075 from yesterday's close.  Jul 25 Wheat closed at $5.7375/bushel, down $0.005 from yesterday's close.  Jul 25 Soybeans closed at $10.7275/bushel, down $0.02 from yesterday's close.  Jul 25 Soymeal closed at $284.9/short ton, up $0...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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