Wheat Wheat prices continue to rise in Argentina’s local market, mainly due to millers’ participation as farmer sales remain low. While many mills still have sufficient stocks for a few months, they cannot afford to stop buying as there are many months remaining until the arrival of the new harvest. The overlap between the old (2022/23) and new (2023/24) crops could be even further away than expected. If the planting of new wheat fails, mills will not find the necessary relief in November/December with the harvest. At the same time, there are no incentives for farmers to sell wheat. Farmers believe that prices are low and should rise as everything indicates that a bullish trend has started for wheat prices that will only end...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.