The wheat markets have been solidly bearish for what seems like an eternity. Although the world has produced four consecutive record wheat crops, that is starting to change - at least in North America.The wheat markets have been solidly bearish for what seems like an eternity. The big speculative funds that have been long the soy complex have also been short corn and wheat. Although reversing their corn position from shot to long over the past two weeks, they are still holding a big short position in Chicago wheat futures. Funds have started to cover some of these short positions over the past week. That took Chicago March wheat to as high as $4.64 yesterday before the fund buying in every market stalled, and it was trading 20 cents off tha...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.