There have been changes to the 2018/19 corn balance sheet since our first look at the potential supply/demand outlook on 18 January. USDA reduced the export and ethanol forecasts by 75 million bushels and 25 million bushels, respectively, in the March WASDE. The result was a 100 million bushel increase in corn ending supplies to an estimated 1.835 billion bushels, although that is still down from 2.14 billion bushels in 2017/18. WPI is using a planted acre number of 91.1 million acres for 2019, up 2 million from 2018. Meanwhile, many analysts have been forecasting a 3-4 million acre increase. Those higher corn acreage estimates were based primarily on expectations that the U.S.-China trade dispute would cause soybean prices to collapse, wh...
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.