The corn market in Argentina is currently quiet, and basis premiums weak. One reason is Argentine corn cannot compete in Colombia and Peru due to preferential import taxes for U.S. corn. The result is that Argentine corn is at least $40/MT more expensive. Soybeans The old crop market in Brazil is basically disappearing as the U.S. harvest approaches. It would be possible to buy some spot cargoes before China starts to receive U.S. purchases, but there presently seems to be a significant gap in pricing bids and offers. The Paranagua paper market is priced at 170/165SQ (+290SU), and the FOB market is being offered at +330SU. Offers in China are +395SX CNF, which is equivalent to +310SX FOB or +285SU and 10 cents under the Paranagua paper ma...
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
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.