Markets traded just slightly better overnight and found additional buying ahead of the USDA reports this morning. Wheat markets led the pre-report rally, trading as much as 20-25 cents higher in KC and Chicago. Corn followed wheat for a bit with 6-7 cent gains, and soybeans were also strong. The mid-summer U.S. 4th of July holiday is next week. The markets will be closed all day Wednesday and that night, reopening Thursday morning. That is followed by the 6 July deadline for the imposition of the first round of tariffs on specific Chinese imports. China is expected to quickly retaliate with tariffs on U.S. soybeans. Hot, mostly dry weather is expected to cover the Corn Belt and northern Plains next week. The question today is, how long mi...
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.