The fundamentals are changing for corn and wheat. While agricultural commodities have been stuck in a bear market for years now, the late U.S. planting has clearly altered the corn market’s course. Now shifting weather patterns in global wheat-producing regions are introducing bullish sentiment in that market as well. Soybeans, however, look to be locked in a bear market despite today’s 25-plus-cent rally. Evidence for the above statements comes from the futures market carry (i.e., the difference between one contract month an another). When comparing the nearby futures contract price (presently the July 2019 contract for corn, soybeans, and wheat) against deferred contract prices, the comparative demand for a commodity at a poi...
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.