Crude oil and an implosion in Argentina’s economy supported corn and soybean prices today while wheat markets ran into technical selling. Global vegoil prices were higher overnight with rising crude oil values making Malaysia palm oil “too cheap” relative to the fossil fuel. That supported soyoil at the CBOT (it’s been a long time since those words were written) and offered some support to the broader soy complex. More interestingly, Argentina’s currency is crashing (down 3 percent) as one of the country’s major unions is threatening to shut down for 24 hours in protest of President Macri’s policies and rampant inflation. The move has reportedly shut down the port of Rosario, a major agricult...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
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.