The CBOT opened higher as called with soyoil and soybeans trading to new highs. Wheat prices continued to firm as charts remain supportive and unconfirmed rumors of Chinese HRW purchases continue to circulate. Immediately after the open, corn futures sold off to near their overnight lows as the weather forecast now offers better precipitation for the coming week. Buying interest emerged just as quickly, however, and kept the market steady for most of the day. Hurricane Laura is now classified as a Category 4 storm as it approaches the Texas and Louisiana coasts. Weather forecasters are warning of “unsurvivable” flooding and major wind damage. WPI is told that farmers in the area are scrambling to harvest what corn is ready ahea...
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.