The Quarterly Hogs and Pigs report for the June-August quarter will be released on Thursday. This is an interesting report as it covers the period in which Prop 12 has been implemented and the only two months so far in the year (July and August) where producers margins have been in black. Analysts’ pre-report expectations are that the swine herd will hold mostly steady with last year, but the small declines would result in the smallest inventory of market hogs, and the smallest overall swine herd, since 2017 at 73.6 million head. The September record was in 2019, at 78.6 million head, when ASF was an issue in China and U.S. exports were at record highs. In 2020 exports broke that record, with a large mix of whole and half...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
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.