Note: CBOT and CME ag futures markets will be closed on Monday, 17 February for the U.S. President’s Day holiday. WPI offices will be closed as well. Enjoy the holiday! The CBOT opened on a stronger note with short covering again the feature of the morning. As the day wore on, however two-sided trade developed as traders evened positions ahead of the long weekend. There are conflicting factors that will be in play over the weekend, the favorable (and therefore bearish) weather for Brazil’s and Argentina’s crops versus the Phase One tariff reduction for Chinese purchases of U.S. ag goods. The Chinese purchases could certainly spark a CBOT rally, which is why short positions have been pared back this week. Chin...
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.