GOOD MORNING, The markets are mixed as we head into the weekend, mostly higher on short-covering, wheat lower on long liquidation. Higher markets need volume while bear markets fall of their own weight. With overall volumes down, (except for spread trade), this week has been a classic bear market week. Each of the markets continues to trade low enough to accommodate weaker demand issues courtesy of the coronavirus. Corn and soyoil are linked with energies, with crude falling to new lows again this morning at $18.03/barrel. Beans continue to struggle with poor US export sales. US dollar strength vs. Brazilian Real weakness, which is now historically wide, serves to stimulate larger farmer sel...
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.