Wednesday’s headline in the ag markets was President Trump’s social media post that indicated soybeans will be on the agenda for his upcoming summit with President Xi. The news was the first significant acknowledgement by the administration since starting the trade war that it is having a negative impact on U.S. soybean exports. Typically, by this time of the year, the U.S. has booked 250-600 Mbu of soybean exports to China and about 800 Mbu in total export bookings. Current bookings to China are, of course, zero while total bookings are just above 400 Mbu, down 37 percent YTD. So, the impact of the trade war is abundantly clear. It was no surprise, then, when futures markets reacted to the president’s post with a bu...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.