Overnight trading in grains and the soy complex featured erratic up-and-down price movement, although the price range was limited amid moderate volume. Soybeans pushed higher, but wheat and corn fell below yesterday’s strong closes. Yesterday’s corn trade resulted in a large jump in open interest of almost 24,000 contracts, a good share of which represents an increase in funds’ aggregate long corn position that is now estimated at about 165,000 contracts. Deliveries included 1,610 soyoil contracts, 150 meal contracts, 101 lots of soybeans, 25 corn contracts and 134 KC HRW contracts. The large soyoil deliveries have so far gone mostly to commission house customers. Prices remained mixed early during the day session and the...
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.