GOOD MORNING, Trade continues to pullback and define trading ranges off the overall lows. Funds added to corn and meal shorts yesterday and bean/soyoil longs. Bulls have yet to lose the fight, but bears are hanging tough causing prices to maintain a sideways trade off recent highs. Demand, strong chart price direction, and slightly drier weather keep beans supported, as will defensive fund longs. Soyoil futures continue to march to new highs, albeit slowly. Good producer selling has been noted on this bean and corn rally. Bean basis bids were slightly lower at the same time export basis is firming. Advertised stories have it that Iowa's Dept. of Agriculture narrowed down corn acr...
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.