Grain and soy complex futures were mixed overnight in light trading volume that saw corn, wheat, and soybeans trade both sides of unchanged. Yesterday’s move higher on the charts should create a more bullish outlook, but the grains had trouble following through on that in the overnight session as near-term weather forecasts were more favorable. During the day session, the expiration of July options after today’s close set the tone for an opening rally in wheat. Buy wheat/sell soybeans was featured throughout the day along with some bull spreads for corn/soybeans being placed as well. Volumes were average as the trade featured mostly position-squaring ahead of the weekend and next week’s 1 June Acreage and Stocks report. T...
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.