The CBOT was mixed in quiet, two-sided trade at mid-week. Corn and wheat futures managed to post slight gains after trading both in the green and red while soybeans sank 13 cents lower amid profit taking and some position liquidation. Farm sales of the new corn and soybean crops remains light, but WPI sources indicate it is occurring and will likely increase soon. This, combined with the navigation issues in the Mississippi River are pushing basis lower, which will weigh on futures. Overall, however, the CBOT’s attitude seemed to be that of minor position adjustment and generally biding time ahead of next week’s October WASDE. The drought in Argentina continues to work against the country’s wheat crop and WPI now ex...
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.