Welcome to summer 2021! For weeks now, the CBOT has been trading as if it were summer and weather the paramount factor, but yesterday marked the true official start of summer for the northern hemisphere. If history is any gauge, this summer will feature ample volatility and WPI maintains a bullish outlook for the markets. The CBOT opened weaker overnight after meaningful rains developed for Iowa, Illinois, and parts of Indiana over the weekend. The one-month forecast features rain and cooler temperatures for the major crop-growing regions, but confidence is low beyond two weeks and a switch to hot, dry weather is not unlikely. Bull spreading became a feature of the soybean and corn markets this afternoon with physical demand and expo...
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.