The corn situation in Argentina is generating big losses throughout the entire chain. It started with farmers not harvesting and thus not delivering to ports, leaving many vessels waiting to load and subject to large demurrage costs as a result. There are also large problems in the local market. Soybeans High volatility has returned to the Brazilian soybean market. The board has been trading in a range of at least 20 cents or more each day, much like the rally after the WASDE report was released. Farmers reacted to this rally by selling around 1.2-1.5 MMT in a day. This volume was split between old crop (2015/16) and new crop (2016/17). The most recent Safras & Mercado report indicated that farmer selling reached 67 percent this week,...
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.