GOOD MORNING, Prices are mixed to begin the morning with funds purchasing soyoil futures on the back of sharply higher palm oil. Beans are firmer following technically, as China purchased both US and Brazil origin in recent days. State -owned Chinese firms purchased at least 3 cargoes of US beans Monday. A higher Brazilian basis level and tightening supply makes US beans cheaper and China still has fall demand to cover. Meal follows beans and soyoil as prices sit at the bottom of recent ranges. Features of the day appear to be buy beans/sell wheat and buy soyoil/sell meal. Funds were net sellers of corn at last week's highs, betting that weather remains favorable and that the crops go in on time,...
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.