Corn futures rallied sharply on Monday, fueled by fund and end-user buying after major technical support levels held last week. Wheat futures were pulled slightly higher from spillover buying while soybeans and soymeal were higher on end-user buying at trading range lows. Weaker crude oil and a moderately bearish NOPA report pressured the soyoil market. The CBOT’s expanded positions limits took effect today, which helped encourage fund buying. Funds are thought to have bought 15,000 contracts of corn today, along with 5,000 contracts of soybeans and 4,000 contracts of wheat. End-users were especially aggressive in the soymeal market after prices dipped below $400. The South American weather forecast is shifting more favo...
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.