Euronext’s Paris wheat futures could be considered a far better and more logical proxy for the world wheat market than Chicago wheat futures. The CME Group must privately agree or at least recognize the need for a globally-focused contract as it will soon to launch its own EU wheat futures contract.Wheat, the biblical staff of life, occupies a unique place in commodity market history. It was wheat trading that started the Chicago Board of Trade (CBOT) in 1848 and created the world’s first futures contracts. Traditionally, the Chicago wheat futures contract has been the bellwether for the world’s wheat markets and has traded with limited international competition. As the U.S. wheat market has been recently losing the prominence it once had,...
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.