GOOD MORNING, Prices were lower for the first part of the night seeing more follow-through liquidation on yesterday's lower performance, with the soy complex turning higher by morning. Funds sold 6000 wheat, 35,000 corn, 7000 beans, 4000 meal, and 1000 soyoil yesterday, most of it coming out of grains. The commitment-of-traders report will be out Monday, but it seems like there has been some liquidation in all the markets due to covid cases and possible lockdowns. Funds are now estimated to be around 36k long wheat, 309K long corn, 280K long beans, 94,000K meal, and 97K soyoil. It was a bit of a surprise that corn has given back as much as it has, suggesting that prices are now going to head into a sideways p...
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.