Yesterday’s CBOT selloff was overdone, and traders went to work Friday to correct that error. WPI remains bullish CBOT commodities, especially after recent conversations with clients and cash-market connected sources. Our research and client observations indicate the 2021 drought/weather concerns are far from over. Additionally, yesterday’s selloff sparked strong international demand interest with China emerging as a new crop soybean buyer. USDA did not report any daily “flash” export sales, but cash market sources say China booked as many as eight fall cargoes from the U.S. The weekend U.S. weather will be key for next week’s trade and markets are apt to be volatile Sunday night. WPI sources say conditions in...
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.