GOOD MORNING, Prices are higher this morning on short-covering as we head into the growing season and begin to get the Good/Excellent rating category for crops. Wheat bounces off new trading range lows, as soyoil futures follow a higher palm oil market, with support from the flash sale to China yesterday. April NOPA crush will be released at 11:00 AM, with the trade looking for crush at an advertised 170.4 mln bu. vs. 181.37 mln bu in March. Oil ending stocks are advertised at 2.03 bln lbs vs. the previous 1.787 bln lbs. IEG vantage put out a bit of guesswork as to how acreage pies were shaping up: Corn: 94.2, down 2.8 Beans: 85.9, up 2.4 from USDA Cotton: 12.8, down .09 from...
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.