GOOD MORNING, Prices continue to congest in trading ranges looking for different data, weather, or macro events to move them one way or the other. This morning, there are rumors, (not confirmed), that China purchased both bean and corn cargoes. The dominant direction remains lower for all, but we have arrived at positive seasonals, which may take longer to take shape given the demand destruction from Covid-19. Farmers are planting as fast as they can, and that will allow for prices to rally easier. Funds continue to dominate the corn picture with a steadfast 200K short. All other markets are nearly even as traders play it close to home. Bean prices are firmer this morning as more reports of Chines...
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.