One role that the market must play is to discover how low prices must drop to uncover demand. Obviously, this becomes more difficult when supplies are rising faster than projected demand.As many WPI clients are aware, we take some time off for an annual mid-September Montana fishing trip and just returned from this year's, which was the 13th in a row. While away, we had little opportunity to pay attention to crop yields, production estimates, markets, prices and related topics. We did not even know what USDA's latest estimates from the September WASDE were until first looking at them yesterday.However, it is back to the real world today. In one important sense, the reality of U.S. crop production in 2014 has not changed. Markets have known...
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.