Corn traded a narrow range today before settling a half-cent to a penny lower. New fundamental news is hard to come by at this point, and today’s weak action was largely the result of bulls running out of steam. General Comments It was a turnaround session in the overnight hours for the grains complex at the CBOT as corn, Chicago wheat, and soybeans all turned lower. Corn traded a tight range during the evening session and finished down 2¼ cents from yesterday’s close. Similarly, Chicago wheat turned 2¾ cents lower overnight while soybeans came under heavier selling pressure to close 4¾ cents down.The day session was lackluster for corn and wheat with outside news doing little to spark trading. Soybeans, however, traded actively and...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
What You Need to Know Today: The U.S. conducted “self-defense strikes” in Iran and said the two sides are “close” to negotiating a ceasefire. “Close” is a relative term, however, and even if 95 percent of the terms are agreed to, the remaining 5 percent is l...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
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.