The strengthening of the real is encouraging Brazilian soybean producers to market slowly. Meanwhile, Chinese buyers seem primarily interested in purchasing deferred positions, which is what South American exporters are reluctant to offer because of limited farmer selling. Corn: Unexpectedly Strong Basis The present strength in South American basis seems to be taking some market participants by surprise. May pricing for South American corn is largely covered, and logistics for the near term are limited. Adding to logistical concerns is a strike that was just initiated by river channel workers seeking higher salaries. If prolonged, it could affect the loading of vessels upriver. Such action raises market uncertainty, and basis on deferred...
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.