Short covering continued across the soybean futures today. Most analysts are bearish, based on the forecasts for record world ending supplies. The problem is the market refuses to acknowledge several factors. General Comments Markets were quietly steady overnight with little fresh news to trade. Soybeans and wheat turned higher early this morning with corn lower, which is how today's session opened and closed. Funds were net buyers of everything except corn.Options against the May futures contract expire this Friday.Stats Canada will release its planting intentions report this Thursday.U.S. equities markets were beaten lower last Friday but got it all back today. Today's rally was sponsored by news that China's Peoples Bank had cut reserv...
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.