After soy and corn prices recovered yesterday from deep early losses to close solidly higher, markets were unprepared for the unexpected rains and milder prospects beyond this week’s heat. Recent days have seen prices swing up and down rather wildly as each weather model run was dissected. General Comments Yesterday’s unchanged and still lofty weekly corn and soybean crop condition ratings should not have surprised anyone following last week’s weather. When better-than-expected overnight rains and predictions of somewhat cooler temperatures next week were added, speculative longs were caught out of step. This week will see oppressive heat over the Plains and much of the Midwest, but improved soil moisture conditions bolstered by rainfall...
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.