The market was called mixed at the open, and it followed suit. There is rising open interest, some rising prices, but volume was unremarkable except in wheat, where people are trying to get out, or lean hogs where the goal is to get in. Profit-taking in sideways market results in chop. The export sale of nearly 9 MMT in U.S. commodities last week, including a record amount of corn, was not enough to feed the bull. The corn pit sniffed a 300 percent jump in export sales from the week before and sent the price lower. Wheat likely deserved the losses to stay competitive and soyoil continued to pull soybeans higher. There is concern about the rising value of the dollar, up 2.25 percent in a month while the euro has fallen 2...
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.
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...