The Federal Reserve held interest rates steady on Thursday, indicating that it considers it has crossed the finish line in its effort to rein in inflation. The federal funds rate was held at an effective 5.375, the midpoint between 5.25 and 5.5 percent. Earlier this week, the November inflation rate was reported to be up .01 percent over October, and up 3.1 percent in November 2023 over November 2022. The CPI was held down by a drop in energy prices of 5.4 percent year-over-year, but food prices were up 2.9 percent. Of course, the “core” inflation rate that the Fed watches excludes food and energy because of their volatility. Thus, the core inflation rate year-over-year came in at 4 percent – which is still about do...
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.