There was the smell of rain in the air across the western reaches of the U.S. hard red winter wheat region, and that was enough to bring another major round of fund selling to all three wheat markets. General Comments The market story was all about wheat today, and it wasn't a pretty one. Wheat futures opened 8-10 lower overnight and never looked back. There was precipitation across the eastern portions of the southern Plains with chances for more scattered rains in the forecasts. So far, the driest areas are still without rainfall. That didn't stop another round of heavy fund selling in wheat that, surprisingly, had only minor negative impacts on corn and soybeans until the last hour or so of the session. Today's market action was not go...
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.
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...