Buying activity was huge today with soybeans and corn jumping higher to the surprise of many bears. Early end-user buying strength combined with positive geopolitical news started the rally early this morning, with short-covering and later technical buying (particularly in soybeans, which moved above two key moving averages) accelerating the move around Noon. Traders were actively searching for The News that caused the rally, but it was seemingly driven by several macro influences, rather than one or two micro factors. One report noted as a possible catalyst for the rally was a Bloomberg article posted early this morning saying China plans to cut tariffs on roughly 1,500 products in the near future, possibly as early as October. The...
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.