With the possible exception of old crop soybeans and soymeal, there is presently the absence of the kind of fundamental tensions that encourage trading and increase volatility in grain futures markets. General Comments U.S. stocks were higher for the second day in a row. The U.S. dollar also gained versus most other currencies. NYMEX crude oil jumped $1.86 to close at $94.64 after U.S. stocks of crude were drawn down much more than expected last week. Cattle and hog prices were also higher.After the burst of futures trade immediately following last Friday's reports from USDA died down, volume has been trending lower. USDA's reports may have modified the landscape for U.S. grains and soybeans somewhat, but not enough to materially alter ma...
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.