World Perspectives
livestock

Livestock Roundup: A Look at Heifer Numbers

As WPI reported, last Friday’s Cattle on Feed report was a bearish surprise. Inventory on feed was 101 percent of last year and September placements were 106 percent of September 2022, even though the July cattle inventory showed feeder cattle outside of feedlots at the lowest since the bottom of the cattle cycle in 2014.   Three factors played into the numbers. First, prices. The question is whether older cow/calf producers are taking advantage of once in a lifetime prices to exit production. Second, imports. Given the cattle herd situation, placements were unlikely to increase so dramatically without a boost of imported cattle. Year-to-date Mexican feeder cattle imports are up 50 percent over last year, and Canada had the...

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feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.175/bushel, up $0.08 from yesterday's close.  Sep 25 Wheat closed at $5.4075/bushel, up $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.2475/bushel, up $0.0825 from yesterday's close.  Jul 25 Soymeal closed at $271.1/short ton, up $0.2 from y...

feed-grains soy-oilseeds wheat

Market Commentary: Trade Deals, Emerging Dryness Spark CBOT Short Covering

Traders seemed content to take short risk off the table heading into the weekend with USDA’s June Acreage and Grain Stocks reports due out Monday. Funds in particular are comfortable with positions ahead of these reports and saw little reason to push markets further into oversold territor...

Trade Negotiation Update; Miscellaneous

Trade Negotiation Update There were no shortages of eye-opening news reports this week and the notable one on trade late today was President Trump’s announcement that he is ending trade negotiations with Canada. Ottawa’s decision to impose a retroactive digital services tax on Ameri...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 25 Corn closed at $4.175/bushel, up $0.08 from yesterday's close.  Sep 25 Wheat closed at $5.4075/bushel, up $0.04 from yesterday's close.  Nov 25 Soybeans closed at $10.2475/bushel, up $0.0825 from yesterday's close.  Jul 25 Soymeal closed at $271.1/short ton, up $0.2 from y...

feed-grains soy-oilseeds wheat

Market Commentary: Trade Deals, Emerging Dryness Spark CBOT Short Covering

Traders seemed content to take short risk off the table heading into the weekend with USDA’s June Acreage and Grain Stocks reports due out Monday. Funds in particular are comfortable with positions ahead of these reports and saw little reason to push markets further into oversold territor...

Trade Negotiation Update; Miscellaneous

Trade Negotiation Update There were no shortages of eye-opening news reports this week and the notable one on trade late today was President Trump’s announcement that he is ending trade negotiations with Canada. Ottawa’s decision to impose a retroactive digital services tax on Ameri...

Input Costs Forecast to Rise, Led by Fertilizer

After rising sharply in 2022, input costs remain stubbornly high yet today. At the same time, the prices received for major crops like corn, soybeans and wheat have fallen by as much as 30 percent over the same period.   In response to these economic headwinds, Congress stepped up thr...

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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.

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