The CBOT opened mixed with soybeans coming under pressure from reversal of old long soybeans/short corn/wheat trades and from new contract lows in soymeal. Corn continues to advance with modestly supportive technicals while SRW wheat consolidated for the day. HRW wheat was lower with funds emerging as net sellers. Funds bought some 9,000 contracts of corn this afternoon while selling 3,500 contracts of soybeans. WPI’s view is that this week’s trade will be mostly focused on position-evening heading into the long Memorial Day weekend. Corn offers the best potential for a mild rally but WPI maintains our bearish view on corn, soybeans, soymeal, and wheat. Funds and speculative investors appear more focused on the equi...
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.