General Comments Grain and soy futures were firmer overnight, and volume was noticeably improved as traders anticipated that USDA's weekly export sales report would show another week of good sales volume. They were not disappointed. Net export sales for everything except soymeal came in above the average trade guesses. The market was starving for something to support prices, and the export sales report provided it at least for today.The report was especially supportive of the soy complex. Net soybean sales of 1.3764 MMT were well above expectations as were sales of 95,800 MT of soyoil. A sale of 40,000 MT to India was reported previously under the daily system, but there was an additional sale of 34,800 MT to unknown as well as sales t...
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.