Markets were soft in the Sunday evening session. There was light rainfall across 20-25 percent of Argentina with another chance for showers later this week. The forecast for the southern Plains still looks warm and dry, but KC wheat futures were the weakest overnight. Concerns over the expanding length of fund longs in corn and soybeans coupled with last Friday’s very weak closes kept the trade nervous heading into this week. Markets weakened further at today’s opening and never found much additional selling, gradually returning to unchanged or slightly higher. USDA announced two corn export sales this morning: 108,000 MT to Japan and 255,000 MT to unknown. U.S. equity markets started the day quite strong and then turned mixed...
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.