World Perspectives
wheat

Wheat Condition Not Determinative

USDA delayed its last of the year Crop Progress report until tomorrow due to undefined “system outages.” Private analysts told Reuters that they expect the report to show 33 percent of the winter wheat crop in Good/Excellent conditions, up one point from last week’s report.  Based on historical studies, a relatively low-quality condition in the fall is not determinative of yield when the crop is harvested. However, there is a stronger correlation of a lower fall quality rating and the ratio of abandoned acres. Lower quality means that when the plants emerge, fewer will have survived dormancy. However, good spring growing conditions means that those plants still growing can have good yields. There have also been years...

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softs

Bearish Sugar Prices to Continue Despite Production Increases

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Beans to Storage China is carrying out its annual purge of stored soybeans, selling them at around a half million tons per week over two months at auction. The amount of market discount depends more on quality, which is better than a few years ago when the need for stock rotation was newly appr...

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Bearish Sugar Prices to Continue Despite Production Increases

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.365/bushel, down $0.0325 from yesterday's close.  Mar 26 Wheat closed at $5.095/bushel, down $0.1125 from yesterday's close.  Jan 26 Soybeans closed at $10.6275/bushel, down $0.09 from yesterday's close.  Jan 26 Soymeal closed at $302.4/short ton, down $1...

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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.

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