China Shifting to Sourcing Soybeans from Brazil Despite Slow Harvest As expected, Chinese soybean processors have begun shifting their sourcing of soybeans from the U.S. to Brazil. One source indicated today there was only one ship in the Gulf waiting to load U.S. soybeans with four in the PNW to do the same. The problem for China is that the soybean harvested in Brazil is far behind the pace of a year ago. At the end of last week, only 9 percent of Brazil’s soybeans had been harvested. That compares with 24 percent a year ago and the average in past years of 20 percent according to AgRural. Because of the slow harvest there have been relatively little soybeans loaded at Brazilian export terminals. At some ports, no soybeans a...
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.