Grain and soy complex markets traded mostly higher during the overnight session, helped along by the macro impact of the OPEC agreement to cut production and sharply higher crude oil prices. Markets held on to at least part of the overnight gains in early day session trading, but prices eventually fell victim to profit taking. General Comments Defying the doubters, OPEC did reach an agreement to reduce its crude oil production by 1.2 million barrels or about 4.5 percent per day. The Saudis will account for about 40 percent of the decrease, and Iran will contribute very little to the cut. OPEC also said that it expects non-members to lower their production by 600,000 barrels per day with Russia indicating it is prepared to reduce its own b...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.