The wheat market has been immersed in such a bearish mentality for so long that it almost seems to have become a permanent condition. However, there are some developments in the world wheat situation that suggest change may finally be approaching.The wheat market has been immersed in such a bearish mentality for so long that it almost seems to have become a permanent condition. Noncommercial funds with their aggregated massive net short position in Chicago wheat futures and options of about 134,000 contracts seem to be trading the wheat market that way. There are good fundamental reasons to be bearish on wheat. USDA forecasts that U.S. 2016/17 ending wheat stocks will top 1.1 billion bushels, the largest wheat carryout since 1987/88. It als...
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.