GOOD MORNING, Prices are mixed this morning, with grains higher on short-covering. The massive wind storm that impacted the US, along with slightly lower corn crop ratings, has triggered more short-covering this morning. Wheat moves off its low of $4.90 as more of a sideways pattern begins to form from the bottom. Corn in particular has a tendency to post its low around the August report. Depending on the size of the yield printed tomorrow, we will see if this comes true this year. However, the bar has been set high with a 184.5 bpa printed for corn. The market penciled it in, which could set up a fund short-covering rally tomorrow if the USDA takes a more modest road. Typically, the Sep. and Oct...
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.