Despite Friday’s bullish, post-WASDE turnaround, the CBOT posted steep losses on Monday with corn and soybeans leading the way. Ag futures markets were largely under pressure from favorable U.S. weather over the weekend and China’s poor economic data. Corn and wheat recovered some of their losses heading into the close, but soybeans and the broader soy complex struggled to find much support. Funds were net sellers for the day, but the low-volume nature of Monday’s trade suggests they have still expanded their net long in corn and soybeans after Friday’s buying. The weekly Export Inspections report was bearish all three commodities, with inspections falling from the prior week and missing their target volumes...
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.