USDA’s outlook for 2019/20 U.S. wheat is for stable supplies, increased feed and residual use, and lower stocks. Ending stocks are now projected at 965 million bushels, down 9 million from the previous report. The season-average farm price is unchanged at $4.55 per bushel. Foreign wheat production for the 2019/20 market year is dropped 1.0 million tons. A 1.0-million-ton reduction for Russia on updated government production data and a 0.5-million-ton decrease for Australia reflecting the severe drought conditions in parts of the country. Partly offsetting is a 0.5-million-ton increase for the European Union. Foreign ending stocks are lowered 1.2 million tons to 261.8 million. ...
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.