Yesterday’s trade was a key technical reversal in the soybean market, and that brought more follow-through buying today. Wheat chased the soybean rally, while corn’s rally was more subdued. General Comments Markets were choppy in the overnight trade with corn and wheat slightly easier and soybeans slightly higher. That all changed when today’s session opened with the soy complex rallying to big gains. Wheat chased the soybean rally, while corn’s rally was more subdued. The U.S. dollar was lower today, and some credit that plus year-end commodity short covering for today’s early rallies. Adverse weather in central and northeastern Brazil was also a supporting factor.Outside markets were getting clobbered. U.S. equity markets were sharply l...
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.