If crop insurance had to operate on actuarial soundness with premiums fully paid by farmers, its value would quickly decline over time. The belief continues that without public support, agriculture would fail and everyone would starve.This year's USDA Outlook Conference carries the theme, "The Changing Face of Agriculture." In some ways, this conference reminds us of the quote by French author Jean-Baptiste Alphonse Karr, "plus ça change, plus c'est la même chose" - the more things change, the more they stay the same. However, there were notable things to comment upon:The Forecast: USDA's updated numbers are available to all, but the key thing, according to USDA Chief Economist Joe Glauber, is that prices will be off their previous highs wh...
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.