The whipsaw weather and the seeming inability of the GFS weather model to provide accurate forecasts continue to frustrate futures traders. Soybean futures were a bit more active, though, and managed to post solid price gains today. General Comments The whipsaw weather and the seeming inability of the GFS weather model to provide accurate forecasts continue to frustrate futures traders. The good rains that were supposed to fall over Iowa in the last 24 hours did not materialize as predicted. Both the amounts and the coverage were much less than expected and not enough to halt the loss of soil moisture. Rain showers did move into Missouri and parts of Illinois, however. Both the EU and GFS models now agree that the western Corn Belt will n...
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.