If one was looking for the January WASDE to spark a directional change in the commodity markets, the day was surely disappointing. The day started off as called with continued buying in wheat and light profit taking in soyoil. Funds were selling corn heading into the report and pushed the market below technical support. That selling pressure, however, would not last the day. Early this morning, the weekly Export Sales report was posted. The report was issued one day later than usual, but its interpretation was predictable. The report was bearish corn with a paltry 6.4 mbu of net sales and 20.3 mbu of exports, the latter being half what was needed to keep pace with USDA’s (now smaller) export forecast. Soybean sales were below t...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
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.