Today’s trade was much more reserved, but volume was again well above average. Funds continued to slowly add to their long soybean position, now reportedly near 300 million bushels. Wheat also found some buyers at the close with the soy and corn markets. General Comments Today was the end a very tumultuous week and the start of a new month. Yesterday’s long-awaited USDA planting intentions report left the corn market stunned with acres nearly 4 million higher than the average trade guess and 6 million above last year’s number. It left most people scratching their heads over how the trade could miss the number by such a wide margin. The wheat acreage estimate was bullish and, soybean’s was neutral to slightly bullish. The big question goin...
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.