USDA’s 31 March reports containing its estimates of preliminary planting intentions and 1 March quarterly stocks provided a few surprises. The biggest surprise was the planting intentions for corn of 97 million acres which, if realized, would be the second largest U.S. planted corn acreage on record. It topped the average pre-report trade guess by nearly 3 million acres. It would exceed last year’s corn plantings by about 7 million acres. Most of the increased corn acreage would be in the heart of the corn belt from Ohio through South Dakota. This huge acreage, trend yield and normal growing season weather would produce close to 16 billion bu of corn and very bearish ending 2020/21 corn stocks of well over 3 billion bu. However...
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.