World Perspectives
soy-oilseeds

WASDE Soybeans

USDA projects lower soybean crush and higher ending stocks.  With soybean exports unchanged, ending stocks are forecast at 225 million bushels, up 15 million. The U.S. season-average soybean price for 2022/23 is forecast at $14.30 per bushel, up 10 cents from last month.  The soybean meal price is forecast at $450.00 per short ton, up 25 dollars.  The soybean oil price forecast is unchanged at 68.0 cents per pound. Global 2022/23 soybean supply and demand forecasts include lower production, crush, and ending stocks.  Argentina’s crop is reduced 4.5 million tons to 41.0 million on lower area and dry weather conditions impacting yields.  Ukraine’s crop is down 0.4 million tons on lower reported area harve...

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Mar 24 Corn closed at $4.06/bushel, down $0.05 from yesterday's close.  May 24 Wheat closed at $5.7925/bushel, up $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.4775/bushel, down $0.13 from yesterday's close.  May 24 Soymeal closed at $331.4/short ton, down $5.3 f...

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Market Commentary: CBOT Decline Continues while Stocks Rally; EPA Confirms Summer E15 Sales

The CBOT was mostly lower again on Thursday with funds retaining their bearish grip on the markets and driving futures into the red. Despite adjustments to South American crop expectations, corn and soybean markets are reacting to overall favorable production conditions and the looming crops th...

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Livestock Roundup: Cattle on Feed Preview

USDA will release its Cattle on Feed report tomorrow and the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 100 percent of the prior year. If correct, this would be the fifth consecutive month that inventories were equal to or larger than the previous...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.06/bushel, down $0.05 from yesterday's close.  May 24 Wheat closed at $5.7925/bushel, up $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.4775/bushel, down $0.13 from yesterday's close.  May 24 Soymeal closed at $331.4/short ton, down $5.3 f...

livestock wheat soy-oilseeds

Market Commentary: CBOT Decline Continues while Stocks Rally; EPA Confirms Summer E15 Sales

The CBOT was mostly lower again on Thursday with funds retaining their bearish grip on the markets and driving futures into the red. Despite adjustments to South American crop expectations, corn and soybean markets are reacting to overall favorable production conditions and the looming crops th...

livestock

Livestock Roundup: Cattle on Feed Preview

USDA will release its Cattle on Feed report tomorrow and the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 100 percent of the prior year. If correct, this would be the fifth consecutive month that inventories were equal to or larger than the previous...

FOB Prices and Freight Rate App (Updated 22 February)

Ocean Freight Comments - 22 February 2024 By Matt Herrington Freight markets and traders returned from their seasonal quiet period during the Chinese Lunar New Year holiday and found a flurry of buying orders that supported markets and rates. The Capesize sector led the rally with the Panamax s...

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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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