Excellent early crop ratings but excessive dryness, then a chance of showers that may or may not occur – the one certainty is uncertainty and today’s trade reflected one more gyration of it. The day was supposed to see higher prices, chasing the overnight closes that had added strength, but after the open most things went south, even the normally reliable bulls around soyoil. The modern era has typically involved a sort of counter-seasonal insurance policy. If there is trouble in South America, a new crop in the Northern Hemisphere comes to the rescue, and vice versa. There is no insurance for troubles in both production zones. However, a more favorable weather forecast today for the Northern Plains gave the market some pause i...
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.