GOOD MORNING, Futures were mixed overnight, with profit-taking in oilshare and corn prices drifting lower. Corn has become the sell leg again for spread activity as dictated by weaker chart price action. Futures continue to back and fill and stay in trading range territory in front of Friday's important January report. The major expectation is that the US yield and harvested acreage will see total production heading lower for both corn and beans, so the measure is by how much, not if. Quarterly Dec. 1 stocks will be released and are expected by the trade to be around 15% lower vs. a year ago. The trade is not expecting many changes for Brazil or Argentine crops, but Australian wheat crops will continue...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.