Long positions being held in the Brazilian soybean market are maintaining depressed levels on the offer side despite the big drop of CBOT. After falling almost 80 cents in two days, offers remain at +180 SQ CNF north China for July and +185 SQ CNF for August. Soybeans Argentina manage to exported only 5 MMT of present campaign soybeans through the end of June versus 7.2 MMT as of the same date last year. It shipped 2 MMT in May and also in June but is expected to deliver 1.3 MMT in July as well as August. As a result, Argentina’s export program is expected to be around 7.5-8 MMT. Export licenses thus far have reached 7.4 MMT, the minimum volume and probably close to the final number, which is another reason to expect not more than 8 MMT...
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.