USDA will release its updated U.S. and world production estimates at 12 p.m. (EDT) Thursday. Those for U.S. corn and soybeans will be larger than in the previous month’s report if for no other reason than USDA will increase planted acreage numbers to match the June planting estimates. Here’s how we see the report. Corn - The June planting estimates showed 1.1 million more acres than reflected in the March planting intentions estimate. That would increase production by about 174 million bushels if USDA doesn’t boost the yield estimate from June’s 174 bushels/acre, which is already the second-highest ever. There are some analysts who believe that estimate will be higher because the weekly ratings have been so good. Ho...
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.