The CBOT opened higher Monday night and continued that trend into Tuesday morning with export rumors and macroeconomic developments supporting values. Corn and soybeans were the early upside leaders, but eventual spread trade left the corn market to fade this afternoon while soybeans maintained their strength. Dry weather across Europe and the Black Sea also supported trade early in the day and a stronger Brazilian real helped grains firm as well. One supportive factor for the grains complex today was the massive short position funds hold in corn futures. Contrary to the market’s expectation, Friday’s CFTC report showed that funds sold another 31,000 futures contracts and now hold one of the largest short positions in cor...
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.