Most grain and soy contracts held onto gains until the latter stages of the day session when buying interest slackened and hedge selling began to take over. The result was that after trading higher for most of the session, soybean and corn prices faded and closed with small losses. General Comments Shades of days gone by! Grain and soy prices opened the overnight session in mixed fashion, but buying interest soon appeared. That pushed prices higher, more or less following the pattern of yesterday's gains. Overnight trading volume was relatively heavy. Higher prices and heavy volume carried on as the day session opened, spurred on by the USDA/FAS announcement of sales of 419,000 MT of soybeans to China and 113,000 MT to unknown. This is th...
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.