The pace of futures trade overnight and again today was considerably slower than in recent days. Prices for the soy complex were hammered again, while corn and wheat prices held steady to higher. General Comments There were no surprises from the Fed's July meeting. Bond purchases will be reduced another $10 billion next month, which was a virtual certainty, and the Fed's interest rate will remain unchanged at near zero percent for "a considerable time." There was no further clarification as to what constitutes "a considerable time", but many Fed watchers seem to think that the rate will not be raised before mid-2015.Meanwhile, the Commerce Department announced this morning that U.S. GDP grew by an estimated 4 percent in the second quarter...
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.