WHEAT: In the April 2022 WASDE, USDA reduced U.S. exports by 15 million bushels, to 785 million, as the U.S. remains uncompetitive to most markets. Projected 2021/22 ending stocks are raised 25 million bushels to 678 million but are still 20 percent lower than last year. The projected season-average farm price is raised $0.10 cents to $7.60 per bushel. The global wheat outlook for 2021/22 is Russia’s exports are raised 1.0 million tons to 33.0 million as it continues to export at competitive prices. Ukraine’s exports are lowered 1.0 million tons to 19.0 million as its Black Sea ports remain closed since the invasion by Russia in February. USDA notes that most of Ukraine’s wheat exports have already been...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.