The much-anticipated Grain Stocks report failed to match expectations in terms of supply data, but more than exceeded hopes for an exciting day of trade. The USDA’s headline report – the Grain Stocks as of 1 September – and the Small Grains summary report sent wheat and the soy complex plunging lower with all three classes of wheat posting fresh contract lows. Corn futures joined in on the selling despite a relatively bullish Stocks report but could not withstand the onslaught of spillover selling and expectations for 2023 corn supplies. Even the livestock markets joined in on the bearishness, though for different reasons, as Thursday’s Hogs and Pigs report was bearish that market and cattle futures were lower on mac...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.