Decades ago, when wheat was king, WPI had many analysts keenly interested in wheat. Since then, corn became king and now soybeans jockey for top honors. Wheat is still important and filled with changing dynamics, none more notable than the rise of Black Sea wheat, and Russia in particular. Russia’s share of global wheat area has edged higher, rising from less than 10 percent in 2004 to 13 percent now. Due to improvements in yield, Russia’s share of global wheat production has increased from just over 6 percent in 2004 to 11.5 percent today. However, the real standout number is Russia’s share of wheat traded globally, which over that same period has gone from 9 percent to 24 percent. However, the overall global wheat...
The corn and soy complex closed higher, with the wheat market mixed, as winter wheat closed up but spring wheat and livestock ended lower. Part of the strength for corn and soybeans may have been a weather premium, as crop planting has started out fast but warm weather has been slow to develop...
Key Market Insights Macros: Inflation isn’t cooling — it’s moving higher again. March PCE inflation (Personal Consumption Expenditures index — the Fed’s preferred measure of inflation) rose 0.7 percent month-over-month, pushing the annual rate to 3.5 percent, the h...
An amendment to the U.S. House farm bill, aiming to remove the Save Our Bacon Act language in Section 12006 that would have stripped language to prohibit California’s Proposition 12, Massachusetts’ Question 3, and up to 500 state agricultural laws across the country, was blocked by...
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.