The CBOT was firmer heading into tomorrow’s much-anticipated WASDE report, but the major commodities held to their recent trading ranges. The soy complex was higher with support coming from rising palm oil futures and continued Chinese purchases of U.S. soybeans. Traders edged toward the long side of the corn market and reversed bull soy/corn and wheat/corn spreads that were popular this past week. Funds were net buyers in corn, soybeans, and soyoil, while remaining flat wheat and selling soymeal. Palm oil futures were sharply higher overnight on bullish data from the Malaysian Palm Oil Council. The council reported July palm oil production fell 5 percent from June and 15 percent from July 2020. Similarly, palm oil stocks were...
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.