Reports indicate some farmers are already abandoning soybeans in the drought-inflicted Brazilian states and have begun planting the fields to corn in hope that rainfall later in the growing season will help generate enough income to cover production costs. Drought Taking a Toll on Brazilian Soybeans; Flooding an Issue Elsewhere The ongoing drought in the Brazilian states of Mato Grosso, Goias, Maranhao, Tocantins, Piaui and Bahia appears to be ending after some areas received rains over the weekend. About an inch fell over parts of Mato Grosso, but most of the state remained hot and dry. With temperatures close to 100°F, however, the small amounts didn’t do much to reduce crop stress. The drought has clearly had an impact on the potential...
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.