The CBOT was lower to end the week with quiet trading heading into the long, U.S. Memorial Day weekend. Bulls booked some profits after yesterday’s limit-up rally in July corn while bears were present but unwilling to commit to a larger short position after this week’s reversal. Funds were net sellers in corn and soybeans while bear spreading soyoil vs. soymeal. The ongoing Brazilian drought prompted the Brazilian government to issue a water emergency alert from June through September for Parana, Soa Paulo, Minas Gerais, and Mato Grosso do Sul – all states in the Parana River basin. The alert is the first in 111 years and underlines the severity of the ongoing drought. Not only will the Brazilian safrinha corn...
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.