Overnight trading was mixed with corn and soybeans firmer, while wheat dropped lower. However, the volume of trade was large, which speaks to the importance of the Crop Progress reports this year. If USDA’s March acreage figures are correct, yesterday’s report suggests there are 30 million acres of corn and 51 million acres of soybeans still unplanted. The weather is turning favorable for U.S. crops with increasing dryness across the Plains, western Corn Belt and upper Midwest. That will help farmers enter fields for planting activities, which they are apt to do given the combination of prevented planting and Market Facilitation Program (MFP) payments. Additionally, the southeastern U.S. will receive rains this week that will h...
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.