World Perspectives
biofuel

4th of July, Russian Ruble, and Ethanol

Despite high gas prices, the American Automobile Association (AAA) is predicting heavy travel over this long weekend for the 4th of July holiday, forecasting the total to be roughly equal to 2019, prior to COVID.   A few factors are at play for increased car travel: after two years of COVID restrictions, people are ready to travel on vacation. Further, the ongoing disruption to airline schedules (with 1,000s of flights cancelled over Memorial Day, Fathers’ Day and Juneteenth weekends) has more people opting to drive, which is also catalyzed by airline fares which are up about 45 percent over pre-pandemic 2019 averages. Finally, with the airline disruptions, people are planning closer to home vacations this weekend, meaning...

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Drop in Feeder Cattle Supply

USDA released its Cattle Inventory report today. The total inventory of all cattle and calves as of 1 January is 89.3 million head; that compares to 92.1 million head, or 97 percent, of the cattle inventory on 1 January 2022. Key numbers from today’s report. The 1 January number of feede...

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Summary of Futures

Mar 23 Corn closed at $6.7975/bushel, down $0.04 from yesterday's close.  Mar 23 Wheat closed at $7.6125/bushel, up $0.0875 from yesterday's close.  Mar 23 Soybeans closed at $15.38/bushel, up $0.0275 from yesterday's close.  Mar 23 Soymeal closed at $484.2/short ton, down $4.5 f...

feed-grains soy-oilseeds wheat

Market Commentary: Technicals Dominate on Light Fundamentals

Ag futures saw another day of mixed trade with CBOT wheat taking a surprising lead and posting a technically bullish day while corn futures sank lower after hitting technical resistance. Soybeans saw strong bull spreading that led to rumors of possible export sales activity while soymeal drifte...

livestock

Drop in Feeder Cattle Supply

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 23 Corn closed at $6.7975/bushel, down $0.04 from yesterday's close.  Mar 23 Wheat closed at $7.6125/bushel, up $0.0875 from yesterday's close.  Mar 23 Soybeans closed at $15.38/bushel, up $0.0275 from yesterday's close.  Mar 23 Soymeal closed at $484.2/short ton, down $4.5 f...

New Trade Agenda; Walk the Meat Talk

New Trade Agenda Tomorrow will present the Senate Agriculture Committee’s first hearing in preparation for writing a new Farm Bill and the first two topics are trade, and horticulture. It will be the first hearing for newly confirmed USDA Under Secretary for Trade Alexis Taylor. The line...

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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.

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