USDA will release its June WASDE (supply and demand) estimates tomorrow (Tuesday). The market is searching for answers about how greatly corn and soybean production will be impacted by the wettest planting season in modern history. Unfortunately, the report will likely not provide much insight for several reasons. - There is no way yet to accurately determine the final planted acreage of either crop. As pointed out in last Friday’s analysis, the surveys for the 28 June acreage update are being completed now, but their numbers might not be conclusive either. - The trade has centered its analytics on trying to guess the weather’s effect on planted acres. However, most have failed to recognize how negative the late planting dates...
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.