Weather and Congressional tax policy were at the forefront of futures traders’ minds on Wednesday and these two factors drove much of the day’s price action. The weather outlooks – favorable for the Corn Belt and dry for the Southern Plains, Europe, and Black Sea – created bearish pressure on new crop corn and allowed wheat futures to follow through on Tuesday’s bullish reversal. The WASDE’s outlook was bearish for wheat, but traders are increasingly focused on deteriorating weather, which has put at least a temporary floor under prices. The other major factor at work in the day’s trade, U.S. tax policy, was directly related to the soyoil market where traders are hopeful that Congress will ext...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
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.