WPI Spotlight

Ag Review

Our Monthly Publication Focusing on Trends and Analysis

This Month's Issue:

AgReview May 2017

Volume 29, No.4

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WPI Agribusiness Subsector Outlook 

 A brief review of WPI’s past Bull/Bear calls and industry stock price performance.

WPI Bull/Bear Leanings for Agribusiness in 2017

A summary and graphical depictions of WPI’s expectations for future agribusiness performance.

The U.S. Grain Industry

Low volatility is reducing trading and merchandising profits, while growing on-farm storage is forcing grain buyers to offer better basis levels.

The Chinese Oilseed Processing Industry

Two factors are working against Chinese soybean crushers: consumer’s anti-GMO sentiments and low crushing margins. Neither will be easy to change.

The U.S. Biofuels Industry

Both biodiesel and ethanol had record years in 2016, but their outlook is heavily dependent on federal policies and export opportunities.

The U.S. Meat and Livestock Industry

Packer throughput remains strong for all three species, leading to solid revenue opportunities. The summer grilling season will spur demand, and beef and pork especially look to benefit.

Farm Inputs

Fertilizer and company share prices fell further in April, and little upside is expected in the coming quarter. Increased crude oil supplies will cap fertilizer price gains as will expanded Chinese nitrogen production.

Policy Trends

The challenges to improved profitability in a commodity glut are many; the solutions are difficult.
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WPI Spotlight