GOOD MORNING, Fund position leveling is now taking place into the June 30 Quarterly Grains Stocks report as they remain short everything except soyoil. Funds are using market setbacks to lighten up on short positions on friendly bean and corn seasonals (which usually bottom this time of year), trade talks in October, and two upcoming USDA reports. Meanwhile, traders continue to search for signs of new business as US beans are at a discount to Brazil and Argentina. Brazil is coming to the end of their marketing year, and as such could soon run out of exportable supply. The Brazilian growing season is off to a delayed start creating the possibility for the US and South America to have back to back lower product...
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.