Despite the recent U.S. tariffs slowing two-way trade traffic, the otherwise booming economy has pushed diesel supplies down to their lowest level in 14 years. The U.S. Energy Information Administration (EIA) reported that the distillate fuel inventory, which includes both diesel and home heating oil, totaled 117.7 million barrels at the end of June. That is the lowest end-of-June inventory since 2004, and the stocks have been less than the five-year average for almost all of 2018. The inventory level is driven by the trucking sector’s diesel consumption, which increased in January-June versus the same period in 2017. EIA estimates U.S. distillate fuel consumption has averaged 4.12 million barrels/day so far in 2018, up 5 percent com...
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.