THE OPEN March beans: steady March soyoil; 42 higher March meal: 1.00 lower March corn: 1/2 higher March wheat: 3 1/2 higher The markets opened as called with prices hitting new contract highs in soyoil on the back of a friendly palm oil market trade. It was a risk-on day across the board, though crude oil broke in the latter half of the session. Corn prices, which had been on the radar as everyone's sell leg, found support on a round of short-covering as well. Wheat prices were higher, which helped corn to put in gains. Beans were higher as they have sometimes correlated with the Shanghai stock market, fueled higher today by news out of China that the central bank would be pumping $115...
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.