World Perspectives
feed-grains soy-oilseeds biofuel

September WASDE Bearish for Corn

Today's WASDE report was considered bearish for corn because the national average corn yield of 122.8 bushels per acre was larger than the average analyst estimate of 120.6 bushels per acre. As commonly occurs, the bullishness or bearishness of a USDA report is usually judged by how it relates to the average of analysts' estimates. However, please consider the following factors:

USDA did reduce the average U.S. corn yield, and there are still several more estimates before the final is given. The slight 83 million bushel increase in 2012/13 ending stocks to 733 million bushels made no significant change in the corn balance sheet. The primary reason for the increase in 2012/13 ending stocks was a 160 million bushel increase in beginnin...

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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.

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