There is little doubt now that the U.S. corn crop will be just a shadow of what was expected six weeks ago. The remaining question is just how much below USDA’s May estimates of production (15 billion bushels) and ending stocks (almost 2.5 billion bushels) will the final numbers be. Obviously, the markets did respond to the early corn planting issues and rallied significantly following USDA’s bearish May WASDE. Some analysts believe that rally was enough to factor in the loss of production, and this is where the debate has stalled. Next week’s June WASDE will likely not factor in much of the reductions in planted acres or yields for corn and soybeans. The next USDA acreage numbers will be released on 28 June, and surveys...
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.