On Monday, WPI discussed the state of the economy (What is a Recession and Why Does it Matter if We’re In One?). As we wrote, “The whole situation – like COVID and the policy and structural changes that came with it – is unprecedented and still playing out.” Today’s jobs report illustrates that. As covered in WPI’s report Monday, the Institute for Supply Management (ISM) employment index was “still in the contraction phase, but only barely, at 49.9 percent, but with most manufacturers reporting they are still hiring.” Specifically, that index of 49.9 percent indicated that employment was just 1/10th of one percent below recovering to pre-COVID levels. Officially, as of today&rsquo...
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.