Grains market rebounded from overnight pressure on continuing weather problems for the world wheat crop and USDA’s announcement that the U.S. sold 130,00 MT of soybeans to Argentina. Wheat futures were sharply higher for the day while corn and soybean futures were more reluctant followers. The meat markets continued to retreat from their recent highs. Outside of the ag markets, it’s a tough day to be long. The S&P 500 and Down Jones indexes are down 1.69 and 2.27 percent, respectively, and are both nearing long-term support at the 200-day MA. The CBOE’s VIX index is up 17.5 points at 19.25 as of this writing, while the U.S. Dollar Index is 17 points lower after five days of consecutive gains. So far, the 100-day MA ha...
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.