The CBOT opened lower, as called, but found some late-day strength, led largely by cash buying interest in soymeal futures. Soymeal futures have been weakening technically for two weeks now and this week saw a pronounced breakdown in the charts with May futures crossing below major support levels. That, in turn, sparked buying interest in the cash market that helped the market firm. The soymeal rally spilled over into soybeans and helped that market firm heading into the close as well. Corn was weak in early trade, but uncertainty regarding the Brazilian crop combined with bull corn/soybean spreads helped pull the market to a fractionally higher close. Funds are thought to have sold some 6,000 contracts of corn,15,000 contracts of so...
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.