The CBOT essentially abandoned its existing trends on Monday and volatility was pronounced, especially in the soy complex. For the past few weeks, soybeans and soymeal have been trending higher while soyoil collapsed under the EPA’s new biofuel mandates. That changed almost without warning on Monday, however, as soyoil posted a bullish reversal and soymeal collapsed and settled $20 or more lower. Soybeans were pulled lower by the soymeal selloff and the favorable weekend rains in South America. Corn and wheat futures were higher to start the week after weekend attacks by Russia on the Ukrainian port of Odessa, which was supposedly protected by the grain export corridor agreement. The port has resumed operations, but the event h...
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.