Red is the traditional color for Valentine’s Day and the CBOT seemed happy to do its part celebrating the holiday. The grain and oilseeds markets were all lower for the day with wheat giving up early gains and the cattle markets also turned lower. Of the major ag markets, only hog futures and soyoil posted gains, leaving traders staring largely at seas of red numbers. There wasn’t any one proximate cause for the day’s weakness and, rather, it was related to mild profit taking, some short selling, and a general disinterest in chasing the ongoing rallies. Funds are thought to have been slight net sellers for the day but trading volume was light and they are still heavily long corn, soybeans, and soymeal while likely now hold...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.