As the market recovered this year, there has been growth in certain short positions on the part of producers and merchants. This could well suggest that U.S. producers are finding current futures prices are strong enough to generate a positive return to production.According to the U.S. Energy Information Administration’s (EIA’s) latest Short-Term Energy Outlook (STEO), U.S. crude oil production is forecast at 8.6 million barrels/day in 2017 or about 100,000 barrels more than its previous projection. That compares with a forecast of 8.7 million barrels/day for 2016 and actual production of 9.4 million barrels/day in 2015. The latter of course occurred when West Texas Intermediate (WTI) crude oil prices dropped from highs of more than $60/bar...
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.