It seems that U.S. and Black Sea corn became more attractive to global buyers once Argentine prices increased into the mid-50s for the March-July period. The Argentine corn market then quickly reacted to the sudden void in demand. Current Argentine Crop Situation Rainfall records were broken this past week in Cordoba, Santa Fe and Entre Rios, and the excess moisture is creating problems for farmers. Cordoba corn and soybean yields are likely to be reduced. The picture below shows a plot of soybeans there:The heavy rains forced Argentine farmers to suspend the corn harvest that is currently about 3 percent complete. More sun is required to ensure the grain flow can meet sizable export obligations for the 15 March-15 April period, which is...
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.