GOOD MORNING, Prices found early strength at the open on a follow-through comeback for July corn which closed unchanged after opening sharply lower yesterday. However, currently deeper losses in soyoil futures are weighing on beans as traders continue to unwind previous buy soyoil/sell meal trade. Soyoil futures were lower on the Argentine chatter that they will increase soyoil exports for biofuel, and lower demand from India which continues to contend with covid. Kansas City wheat futures are under pressure as more reports of good yields surface from the Kansas City Wheat Quality Tour. Crop scouts found that projected HRW wheat in the southwestern portion of the state at 56.7 bpa vs. 47.6 bpa in 2019. ...
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.