GOOD MORNING, Quiet markets are subject to quick bounces and breaks. Yesterday, what was a quiet atmosphere suddenly turned higher as trade war news headlines splashed again, this time not from the US, but from China. The South China Morning Post reported that China is expected to buy more US agricultural goods in hopes of delaying a series of tariffs that will take effect in October and December, as well as ease the supply ban against Chinese telecom giant Huawei Technologies. The fact that China made the statement they will purchase more US beans, betting that it’s a good faith statement to open doors on meat exports as well, got the attention of the algo traders who were quick to buy something. Today, China announced it wil...
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.