Receding concerns about another round of economic lockdowns from the Omicron COVID-19 variant sent macro-markets and the CBOT higher on Tuesday. News broke that President Biden will make an announcement regarding the federal government’s plan for dealing with Omicron, but economic lockdowns are not part of the agenda. That put macro markets in a good mood and offered secondary support to the CBOT as well. The CBOT rallied on concerning weather for Argentina and southern Brazil, with the latest forecasts still trending drier over the next two weeks. Combined with frost/freeze worries in the Black Sea and growing drought in the U.S. Plains, world corn, soybean, and wheat crops are all facing signifcant threats right now. In respo...
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.