GOOD MORNING, The markets are trading back and forth attempting to define ranges into the October report. Funds maintain a net short position across the board and yesterday sold 10K corn contracts, which takes them to a 150K short. Crude oil is lower again today breaking back below $60/barrel as geopolitical tensions calm and Saudi Arabia assures that supplies can come back online. In terms of other outside influences, a Reuters story runs this morning that Trump suggested a China deal could be finalized before the election next year, or possibly after voters go to the polls. Not much of a reaction from beans, as they become more immune to trade talk. Even the Dow is not reacting to this story, dow...
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.