GOOD MORNING, Prices are mostly defensive this morning but still in recent trading ranges. Last week’s price movements is requiring position-evening this week, with shorts lightening up. Funds purchased soyoil futures as a hedge against a mostly even to short board. Funds still carry a short meal/long soyoil position heading into Thursday's numbers. Volumes were extremely low with about half of it now going to spread trade. This is day 2 of the Goldman roll, where index funds buy January contactrs and sell November. WEATHER The coldest air of the season crosses this week, with a winter storm moving down from Canada, which will be centered on the Dakotas. Crop ratings were released, an...
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.