The CBOT was mostly higher on Friday with wheat futures leading the way on the heels of a rally in Paris wheat and concerning weather developments for the Northern Hemisphere wheat crops. The soy complex was firmer as well, primarily due to a soyoil rally that found its motivation in the new contract highs in crude oil, palm oil, and gasoline futures this week. Corn was caught between these supportive influences and weak export demand and traders’ expectations for larger U.S. acreage than USDA’s latest report indicated. The Goldman roll started on Friday and will last through mid-next week, which means spreads will be a less reliable indicator of commercial demand during this time. There was scant fresh fundamental news availabl...
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.