USDA reduced ending stocks of wheat for the 2020/21 season but increased global ending stocks: U.S. wheat supplies are reduced by 32 million bushels because of lower beginning stocks and reduced production - as indicated in the Grains Stocks and Small Grains Annual Summary reports. (The Grain Stocks report indicated greater first quarter disappearance.) U.S. wheat exports remain at 975 million bushels. Projected ending stocks are reduced by 42 million bushels to 883 million, which would be the lowest ending stocks in six years. The season-average farm price is raised $0.20 per bushel to $4.70 per bushel. The 2020/21 global wheat outlook is for higher ending stocks of 1,072.5 million metric tons – mostly due t...
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.