The CBOT finished a volatile week on a high note with corn finding support from a fourth consecutive daily export sales announcement. China booked 0.8 MMT of corn, bringing this week’s known purchases along to 3.8 MMT. The soy complex was higher as well with support coming from yesterday’s selloff to trading range lows. Bull spreading continues to be a favorite trade, which is keeping deferred futures pushed down near trading range lows. Funds were surprisingly large net buyers of corn through Tuesday, according to the latest CFTC data. WPI’s analysis also shows that funds now hold a five-year record large share of open interest in that commodity. Funds were modest net sellers in the soy complex while also liquidati...
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.