Except for cattle futures, the CBOT and CME ag markets were all lower on Wednesday as bearishness remains the prevailing sentiment. Commodity markets received a widespread blow on Wednesday after reports surfaced that many financial analysts expect a recession in the U.S. and the world in 2023. At least one firm predicted a 65 percent chance of a U.S. recession, which would be bearish raw commodity demand across the board. In response to this and Tuesday’s fund selling, corn futures pushed sharply lower amid fund selling and broke technical support in a decidedly bearish day of trading. Despite worrying weather forecast for the Southern Plains and further deterioration in Kansas’ wheat crop funds were also sellers of some...
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.