The very wet conditions across the eastern Corn Belt have caused other problems in addition to lost acres. Corn is or has been standing in water in many areas, and plant development has been stunted.Last week's USDA acreage and quarterly stocks estimates coupled with some ongoing weather problems across the eastern Corn Belt will tighten the U.S. and world corn balance sheets. U.S. corn carry-in supplies will likely be trimmed by the 100 million or so bushels lost in the 1 June corn stocks number. The 300,000 acre reduction in planted acres from the March planting intentions numbers will also have to come out of the planted/harvested acres numbers. In addition to the decrease in planted acres, we are also assuming the super wet conditions a...
What You Need to Know Today: Oil prices surged today following reports of tanker attacks off the coast of Saudi Arabia by Houthi rebels and renewed U.S. threats to escalate military strikes against Iran, heightening concerns over potential disruptions to Middle East energy supplies. Brent crud...
Key Takeaways: The latest UN data shows solid progress reducing global hunger and food insecurity. The geography of hunger-affected people has shifted substantially, however, and Africa is now the most affected region. To understand why hunger patterns have shifted and what policy option...
USDA’s monthly cattle on feed report for 1 July will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 102.2 percent of last year. Those estimates imply an on-feed inventory of 11.327 million head. If accurate, that would be the...
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.