Soybean futures put in a new high overnight, and that strength followed through today. Funds are also long soybean and soymeal futures, and this chart pattern is encouraging more buying. General Comments This week started with the same general theme that has occurred for a long time now. The soy complex began the week firm with corn and wheat futures under pressure. Too much rain is stalling the soybean harvest in Argentina, and the dry U.S. southern Plains could receive some very good rainfall this coming weekend if current forecasts hold. Alternatively, it could be as simple as the fact that funds are still holding huge short positions in corn and wheat and are long soybean and soyoil futures.USDA will release its monthly WASDE revision...
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.