Global food security is supposed to be broadly at risk but acute tightness in grain stocks is more limited to wheat. Global rice stocks are about the same as in 2020/21 yet rice prices are 23 percent higher this year. Similarly, world soybean stocks will be about the same as in 2020/21 and will expand by 16.8 percent this year, yet season average soybean prices are forecast one-third higher than two years ago. World corn ending stocks are larger than two years ago, but season average corn prices are predicted to be 49 percent higher. The world’s wheat stocks will drop 4.5 percent from last year and the lowest since 2016/17. Wheat prices deserve to be in the stratosphere this year. These data ignore stocks to use ratios but thos...
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.