The traditional trading funds are still reportedly long just over 70,000 contracts of corn. If that length is liquidated on a really bearish USDA report tomorrow, it could send December futures quickly to new contract lows. General Comments It is USDA report day tomorrow, and there is just no getting around the fact that the 2014 production season across the U.S. Corn Belt and Northern Plains has been excellent. This means the private forecasts for increases in the corn, soybean and spring wheat yields will most likely become reality in tomorrow's USDA numbers. The only question seems to be whether USDA will go slowly with yield gains or show us very big numbers tomorrow. In either case, it will be hard to avoid bearish reports. The quest...
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.