The markets opened in-line with expectations and moved to early losses. Corn and soybeans remained under pressure from pre-WASDE positioning and good Midwest weather forecasts. Wheat found support from bear corn/wheat spread trading, which triggered additional technical buying. Livestock futures remain under pressure from ample domestic supplies and export demand concerns. The weather remains favorable for finishing corn and soybean crops while hampering the spring wheat harvest. For the next week, the U.S. will see above-average temperatures while the bulk of the corn belt remains slightly drier than usual. The Dakotas and Montana will receive above-average precipitation, to the detriment of the spring wheat crop. Beyond the coming...
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.