There was a lot of red today but not as much as at the start of the session. There was profit taking off recent highs with end users taking advantage of these market breaks. Everything stayed within the new higher market ranges but only soybeans, soyoil and feeder cattle raised their game from a day earlier. Rumors of Chinese purchases of corn and soybeans were supportive, but lack of confirmation was not. Also bearish were scattered showers in Brazil. With so many records being set it is reasonable to test what may be overbought and to lighten the load. The weekly Energy Information Agency report on ethanol was reasonably bearish. Last week’s production fell 1.6 percent as distillers tried to unwind the squeeze between higher...
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.