The CBOT was mostly lower to start the week with funds remaining in a defensive mood heading into the January WASDE and Grain Stocks reports. The USDA will release both reports at noon on Thursday and the report(s) certainly have good potential to be major market movers. Much of the focus will be on USDA’s South American crop estimates, particularly Argentina’s, but the updated grain stocks data will help inform final production numbers for the 2022 corn and soybean crops. The weekly Export Inspections report featured more of the same, with corn shipments missing their weekly target and expectations, even after the later were adjusted for the holiday-shortened week. Corn shipments were down by nearly half from the prior w...
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.