The soybean market continues to have legs of its own. Meanwhile, funds are short in excess of 500 million bushels of wheat futures, and they added to that in a big way today. General Comments Markets were again quiet overnight. However, fund selling took over in wheat and corn and drove wheat to new contract lows. Funds were light buyers of soybeans early in the session.U.S. weather generally looks excellent for crop seeding, which is the primary reason for the aggressive selling. A poor technical outlook gives the sellers more courage.USDA announced the sale of 158,000 MT of soybeans to unknown. That is what brought some of the buying back to the soy complex.Crude oil was strong early but faltered and traded slightly lower during the las...
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.