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wheat

WASDE Wheat

USDA raised U.S. wheat production 14 million bushels to 1,838 million as increased Hard Red Spring (HRS) and Durum production more than offsets lower winter wheat production as indicated by the NASS August 12 Crop Production report.  Projected 2020/21 exports are raised 25 million bushels to 975 million on lower production for several key competitors, most notably the EU.  With offsetting supply changes and increased use, ending stocks are lowered 17 million bushels to 925 million.  If realized, these will be the lowest U.S. wheat ending stocks in 6 years.  However, the season-average farm price is decreased $0.10 per bushel to $4.50 on lower U.S. corn prices and reduced wheat price expectations for the remainder of the...

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Summary of Futures

Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close.  Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close.  Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close.  Jan 21 Soymeal closed at $390.2/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support

The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...

Approaching $6.94 Trillion in COVID Relief, With $26 Billion More For Ag?

The lame duck session of Congress continues to work on a funding bill to meet the 11 December deadline when the current continuing resolution expires. Moreover, it appears that a bipartisan effort at another round of COVID relief could also be a part of the deal. A group of lawmakers from both...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close.  Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close.  Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close.  Jan 21 Soymeal closed at $390.2/short ton, down $...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support

The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...

Approaching $6.94 Trillion in COVID Relief, With $26 Billion More For Ag?

The lame duck session of Congress continues to work on a funding bill to meet the 11 December deadline when the current continuing resolution expires. Moreover, it appears that a bipartisan effort at another round of COVID relief could also be a part of the deal. A group of lawmakers from both...

Empowering the Political Class

Ronald Reagan famously said, “If you want more of something, subsidize it; if you want less of something tax it.” Some countries are moving forward with taxes on technology companies. After all, they are big, rich and offer up an easy fillip on government revenues. However, it can a...

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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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