CBOT (and most other) markets simply imploded today in a massive risk-off mentality. China’s coronavirus continues to unnerve global markets as the disease could have implications for global economic growth/demand. For ag markets specifically, funds were selling into commercial buying activity and futures ended near or below the bottom end of their recent trading ranges. The weather remains a supply-side risk for parts of the major crop-growing regions with increasing frost-damage risk for European winter crops and a dry trend for parts of Ukraine and Russia. Northeast Brazil is receiving persistent showers that aren’t needed, while the central-south region remains a tad too dry. Argentina’s crop conditions and soil...
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.