The CBOT was mixed/slightly lower overnight with soybeans finding some support from this week’s Chinese purchases while corn sagged under the weight of fund selling. The opening bell found aggressive selling from money managers and corn and soybeans moved lower immediately. Wheat futures traded sideways at first, finding some support from dry weather forecasts in Europe and the Black Sea, but eventually broke lower and posted large losses for the day. While the U.S. weather forecast remains broadly favorable, drought is an increasing issue for Europe, the Black Sea, and parts of Southern Brazil and Argentina. Drought conditions are worsening for France and Germany, causing French wheat crop ratings to reach 58 percent good/exce...
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.