GOOD MORNING, Funds continue to buy the market and are now long an estimated 180K beans, 50K meal, 106K soyoil, 390K corn, and even wheat. On May 12 we get the next USDA Supply and Demand report, which updates US and world 2021 corn and bean numbers, and gives our first stats of 21/22 crops. USDA May 12 report will contain NASS' first US 2021 winter wheat production forecast. July corn trades over $7.00 for the first time since 2013 on a firm basis, lower crop production from Brazil, and light farmer selling. StoneX forecasts the crop now at 100.25 mmt, which is 8.75 mmt lower than the USDA April outlook. Talk is that the actual production is much lower than this. Brazil's ANEC said there wo...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.