When markets reach equilibrium with little new demonstrative information, you get days like today. The trades move up slightly or down a little and look like both sides of nothing. In the old days, this is when pit traders were able to read their latest dense copy of The Economist magazine. When supply/demand fundamentals are seemingly static, traders turn to macros like interest rate hike impacts on exchange rates, autocratic saber-rattling, and inflation-caused social displacement. All relevant, but tertiary and sometimes exaggerated in effect. Unless or until something breaks hard enough - like a demand crushing recession, or a resumed Black Sea blockade, a rail strike, or a new Plaza Accord on the dollar’s value, etc. Ther...
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.
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...