Without a lot driving the direction of the market, today was like a bickering old couple where bulls and bears disagreed over nothing important. Trades could be found on both sides of unchanged as each side sees something in its favor. Early expectations called for follow through on yesterday’s gains, but things turned bearish at the open. While soybeans and wheat held their own, corn faltered slightly. There is always pressure from harvest this time of year, though preventing any real casualties is a sense that weeks of dryness cannot be good for final yields. Indeed, the amount of open interest provides evidence of room for longs to re-enter the market. Overall, the pitching back and forth involves some profit-taking,...
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.
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...