Active overnight trading saw wheat and corn prices move higher as soybeans hung around on either side of Monday’s closes. Although corn was the volume leader overnight, wheat nearly matched it. In Monday’s trade, open interest (O/I) in corn jumped 12,417 contracts. We doubt that noncommercials were adding much to their short in corn, so perhaps there were some new longs. Chicago SRW O/I fell 4,369 contracts with KC wheat O/I dropping 5,262 contracts, both apparently the result of long liquidation. Soybeans joined the rally with wheat and corn during the day session to give a solid green color to the board, led by KC wheat. Old crop soybean futures contracts closed more than 8 cents higher with new crop November up 5.5 cents., M...
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.