Prices sagged throughout the day session due as much or more to an absence of buying interest as to aggressive selling. Funds were on the sell side across the board but in relatively modest volume. General Comments The overnight session once again showed mixed price action in mostly light volume. China returned to work after nearly a week-long holiday. The Shanghai stock index was higher, but the Dalian futures market ignored this week’s higher prices in Chicago to close mostly lower. Soyoil futures posted the only gain, but lower soymeal prices turned Chinese crush margins red again. This no doubt was one of the factors that caused a lack of interest from Chinese soybean buyers as they returned to their desks.The Fed released the minutes...
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.