Today’s lower-than-expected grain and soybean stocks may temper the bears’ enthusiasm. By the same token, however, bulls will have great difficulty using them to build their case. General Comments USDA’s stocks and small grains reports were sort of a mixed bag in terms of how they fit with expectations. Following is a summary of the numbers:Not surprisingly, USDA reduced the 2014/15 U.S soybean production by 42 million bushels to 3.93 billion and lowered the national average yield by 0.3 bushels/acre to 47.5 bushels/acre. This helps account for the lower-than-expected ending soybean stocks.All of the stocks came in somewhat below trade expectations with wheat showing the biggest difference. Yet, all of this year’s 1 September stocks are m...
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.