Funds bought around 8,000 contracts of corn to fuel today's price rally, which took place despite rains in the western Corn Belt. The rally also ignored a somewhat surprising drop in last week's ethanol production. General Comments Price action during the overnight session was mixed and indecisive. Wheat prices were higher, soybean prices were lower and corn hung around about unchanged. The widely advertised and anticipated rains spread across the eastern Dakotas, Nebraska, Iowa and eventually western parts of Illinois this morning. Coverage was good, and rainfall totals ranged about .5-1.5 inches. These showers are exactly what were needed for some of the driest portions of the Midwest. This particular band of rains should dissipate toni...
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.