The bullish November WASDE continued to support prices on Wednesday, with the CBOT opening higher on sustained buying interest. Soyoil was the upside leader for the day as a new contract high in Malaysian palm oil futures and the market’s own technical strength sparked more buying. The soyoil market kept soybeans firm even as corn traded a lackluster day and wheat broke lower through the afternoon. For corn and the soy complex, the trends are still higher with plenty of fundamental support. The markets are entering demand-rationing mode now, but buyers continue to increase pricing ideas. For wheat, bullish news is lessening and prices are starting to grind lower amid profit taking. Wednesday marked the fourth day of the Goldman roll a...
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.