The CBOT was mostly lower to close the 2023 calendar year, a fitting end to a year that saw deeply bearish price action across the grain markets. Since the first day of trading in 2023, the spot corn market has fallen 23 percent, soybeans are down 7.5 percent, CBOT wheat lost 22.7 percent, and the KCBT wheat futures fell 25.6 percent. The cattle complex posted the best gains for the year - thanks largely to the rallies to new record highs in live and feeder cattle futures - and the spot live cattle market is up 10.7 percent from 3 January 2023 while feeder cattle gained 21.7 percent. Lean hog futures could not join the cattle market’s rally and fell 20.1 percent for the year. So, despite its excitement and short-lived rallies,...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.