GOOD MORNING, Wheat strength is dominant this morning, as prices jump to new trading range highs as the last of the shorts cover. Spread trade continues with wheat firmer vs. corn, soyoil firmer vs. meal, and beans continuing to gain on corn. New crop 2020 bean/corn ratio sits at 2.38%. Wheat continues to trend higher with a bid from a chart perspective, but other factors as well. Winter wheat plantings could be lower, world wheat values are higher (Egypt purchased a combo of Ukraine, Russian, and French), and China has had interest for US wheat, as inspections showed. This morning, Saudi Arabia is tendering for 600,000 mt of wheat for Feb/March shipment. The rest of the board is following, as it...
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.