More corn in the domestic market and a weaker Argentine peso helped send local prices lower by AR200/MT ($10/MT), which is good news for certain exporters. Some buyers are not bidding on these stocks, though, for different reasons. Soybeans Brazil A stronger real drove Brazil’s old crop soybean market to an interesting rally last week. The Brazilian currency moved from 3.30 to 3.11 before heading back to 3.13-3.14. Since the country’s farmers had sold a decent volume of old crop soybeans some weeks ago, their selling disappeared last week due to the weaker currency and strong CBOT. Having already sold around 68 percent of that harvest, they are now concentrated on selling corn since it is a huge crop and storage space is limited.Accordin...
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.