The December WASDE is not normally a market-moving report, and this year was no exception. The USDA made only mild revisions to U.S. and global grain balance sheets, which left the CBOT to mostly drift lower heading into the weekend. Corn and wheat futures ended lower and turned sideways after their recent two-week rallies appeared to hit resistance. The soy complex also pushed lower with favorable weather forecasts for South America and less-aggressive cuts to Brazil’s soybean production outlook weighing on values. Funds were net sellers for the day but trading volume was light and much of the day’s activity was profit taking and position re-adjusting following the WADSE. Friday’s price action indicates the soy complex wi...
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.