The markets were called mostly lower after the long holiday weekend with funds continuing to be net sellers and coronavirus news remaining bearish for commodity demand. The markets opened as called with some bear spreading in corn/wheat and corn/soybeans that eventually gave way to dominant selling in the soy complex. Wheat prices found support on news of exports to China and forecasts of freezing weather across the HRW-growing region this week. The COVID-19 pandemic seemed to set its sights on the meat packing industry over the weekend. News came that Smithfield would suspend operations at its Sioux City, South Dakota plant for three days for cleaning after a spike in positive coronavirus cases from plant employees. According to WPI...
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.