There were really no surprises in this week’s CFTC report, which was delayed one day due to the national day of mourning for President Carter, as funds’ activity matched up with expectations and general market direction. Note that the data, which captures funds’ positions through Tuesday, 7 January, does not reflect the bullish buying spree that has followed the January WASDE. Consequently, the managed money industry and traders in general are certainly more bullish than the numbers here reflect. Funds bought nearly 20,000 futures-only contracts of corn last week and expanded their net long by nearly 9 percent. That matched expectations and put funds long by nearly 250,000 contracts, which ...
Beef packer margins deteriorated to -$243/head last week, down $25 from the prior week as higher fed cattle prices more than offset a slight decline in the Choice cutout. The cutout eased to $390/cwt while fed cattle prices climbed to $260/cwt - just of all-time highs - extending the seasonal s...
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
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.