The CME’s livestock products turned the board red today with sharp losses in the cattle complex and a weaker tone to hog futures. CBOT grains were mixed with corn and soybeans lower while wheat prices rose. After six days of higher closes, the U.S. stock market finally headed south with notable early losses. As of this writing, however, the S&P 500 was near its opening values and off only 5 points. The Dow is currently down 15.7 points. The VIX index, surprisingly, is steady but above its index value of 10. The U.S. dollar is down 23 points while WTI crude oil is up 50 cents and Brent crude is 32 cents higher. Corn March corn closed at the same price as yesterday’s in unexciting trade. There’s simp...
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.