The big move at the CBOT Tuesday was a 1¾-cent gain in December corn futures – which isn’t much but that the development followed Monday’s bullish reversal is. The strength in new crop corn defies much of the fundamental outlook and suggests traders are sensing something bullish in the offing. Whatever that is, the soy complex and wheat markets were immune to it, and both traded lower for the day with favorable weather forecasts being the primary drivers. Overall trading volume at the CBOT was light for the day with funds largely continuing to hold positions and wait to see what the weather forecasts bring this week. Outside Markets U.S. equities were mixed on Tuesday following the Consumer Price Index d...
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.