GOOD MORNING, Prices were mixed with the grains firmer vs. the soy complex, but after export sales all rallied into the close. For bulls, the good news is that July and Dec corn are staying afloat at reversal levels of trade. Bull-spreads were weaker this morning but corn spreads strengthened. The domestic corn basis is slightly weaker, even in Iowa. Gulf corn values are steady. Issues: Bean prices remain steady with rumors that China is making inquiries about Oct/Nov beans. Spreads are attempting to firm, though July/Dec meal slips to a carry from an inverse. Crushing for soyoil makes too much meal, and China is displacing meal from its feed rations. China's negative crush margins s...
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.