Overnight price action saw grain and soy prices continue the firmer trend set by the rebound from earlier losses late in Monday’s day session that was enough to maintain positive technical support. Soybeans and winter wheat were a few cents higher, and corn gained a fraction of a cent overnight. There were increases in open interest in corn, soybeans and Chicago wheat from Monday’s trade, which suggest that funds were still adding to their large long positions. The day session opened with green numbers all around, and once again funds provided much of the buy side of the action in what otherwise was relatively quiet action with modest volume. The soy complex finished in firm fashion with May soybeans up 7.5 cents and November u...
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.