The CBOT ended its holiday-shortened week on a mixed note with corn and wheat falling and soybeans holding their ground on solid export interest. Rumors circulated that China is looking for 4-6 cargoes of Brazilian soybeans for the summer, and soybeans seem to stand up anytime the words “China”, “buying”, and “soybeans” are mentioned in a sentence. This afternoon’s expiration of March options created selling pressure in corn and wheat as those who were short puts sold futures to cover risk. Funds are thought to have sold some 12,000 contracts of corn, 9,000 contracts of wheat, and bought 5,000 contracts of soybeans. The 2021 USDA Ag Outlook Forum concluded today and the agency, as well as var...
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.