Rain in Argentina is threatening the wheat and barley crops, while the country’s corn market remains well supplied and low priced. Meanwhile, interesting market spreads are developing between South American and U.S. soybeans. Soybeans Global Market Spreads The soybean market was active for spot positions last week with trades for U.S., Brazilian and Uruguayan origins. Chinese crush margins were good in the first half of the week at about $23-25/MT on spot positions, but rising CBOT prices in the latter half pressured margins somewhat. The main activity was concentrated in the Pacific Northwest (PNW) with around nine vessels traded from there at $1.45-1.50X CNF China.The PNW has had clear advantage as the cheapest origin for the past seve...
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.