The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major trendline resistance before finding support. The theme of the day for the soy complex was soyoil falling against soymeal and general weakness in soybeans. The soy complex came under fire from overnight weather forecasts offering better chances of precipitation for Brazil in the next two weeks Outside markets were mixed with U.S. equities rebounding as yesterday’s end-of-month selling turned into first-of-month buying. Additional positive news about...
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.