Good morning, Trading ranges continue to dominate the market as we draw closer to the 8 November WASDE report, in which traders expect to see another cut to corn and bean crops. The Crop Progress reports continue to point to an ongoing problematic pace, with corn falling short of market expectations for the pace of harvest. Funds added to their net short corn position yesterday, selling another 10K so far this week while liquidating some bean length. November bean futures are weaker as funds liquidate or roll contracts forward. Heading into first notice day, there are 1,144 Nov bean receipts registered. REPORTS Crop progress: Corn: 41% harvested vs. expectations of 43-45%, which is the slowest pace since 2009, lagging the most in...
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.