The CBOT was mixed once again with row crops mostly steady unenthusiastic trade as the market awaits the Iowa and Illinois Pro Farmer tour results. Wheat futures were higher overnight on rumors of sales to China but dipped this morning when USDA did not confirm such sales. Afternoon buying interest eventually pushed wheat 4-7 cents higher by the close. Funds were modest sellers of corn and bought a small volume of soybeans while buying some 5,000 contracts of wheat. China once again secured U.S. soybeans for 2020/21 delivery, with USDA reporting a daily “flash” export sale of 192,000 MT sold to the country. USDA surprised the market as it did not announce the sale of U.S. HRW wheat to China, trades of which had been widel...
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.