We see today's upturn of grain and soy futures prices as acknowledgement that yesterday's stocks and prospective plantings really did little to change the fundamental outlook for the balance of 2014/15. General Comments Market participants had more time to digest and dissect USDA's prospective acreage and stocks reports overnight, and some apparently thought yesterday's smashup of the corn and wheat markets was overdone. It is also the beginning of a new quarter in the financial year, a time when index funds often adjust their balancing and investor funds try to figure out how to produce positive results for the next quarter. Grain and soy futures prices were soft early, but they quickly responded to a surge of noncommercial buying during...
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.