It seemed to be a “get me out” market in the soy complex today as long liquidation dominated trade. Getting out involved outright selling of long positions and unwinding inter-market spreads for which soybeans were the long leg. General Comments It was a down-and-dirty Tuesday for grain and soy futures markets, especially for the speculative longs. USDA raised the soybean crop’s good/excellent ratings 2 percent to 59 percent yesterday afternoon, a mildly bearish surprise. To this was added a greatly improved weather outlook that calls for expanded precipitation and coverage for the central U.S. during the next 10 days along with mild temperatures. This is exactly the weather that is greatly needed for the struggling soybean crop with 48 p...
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.