The corn markets are still having some harvest pressure. Prices didn't move downward as expected, and exporters are still paying 2,500 ARS/MT (above $140/MT) even after CBOT prices fell last week. The FOB equivalent did rise, though, after one event occurred. Soybeans Basis have been rising nonstop in all origins during the past few weeks. Chinese crush margins have improved, thanks to the CBOT’s fall and an appreciation in the RMB (Chinese currency) against USD, and they are currently around $20-22/MT. That has fueled Chinese demand, and basis at origins jumped higher. Brazil Brazil almost ran out of offers because of the real’s strength, and the market switched its focus to the U.S. (Gulf and PNW) as well as some cargoes from Argentin...
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.