The Chinese are back! After days of rumors, USDA/ FAS confirmed China’s return to the U.S. soybean market by reporting its purchase of 1.13 MMT for 2018/19. We expect more such sales will be announced in the coming days. It is likely that the sale reported today is for January-March shipment with most or all of it to come from the Pacific Northwest (PNW). Future sales will be for more deferred positions, and some will likely be for 2019/20, probably for September-November. All told, total sales to China can be expected to reach 5 MMT – sort of a down payment for the 90-day truce and formal negotiations aimed at ending the U.S.-China trade war. Additional Chinese purchases might depend on how those talks progress. U.S. soybean f...
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.