News overnight that China had dropped the import tariffs on U.S. sorghum ignited a nice rally in the corn market, which carried over to this morning and held together throughout today. Dry weather across some of the world’s major wheat-exporting regions, including the northern U.S. Plains, Canada, Australia and Ukraine, pushed wheat futures to strong gains as well. The soy complex was mostly steady. There is nothing certain out of the China/U.S. trade conversations. The U.S. House failed to pass the new farm bill today. The problem was all about immigration and not farm-related. U.S. equity markets were a nonevent today. Crude oil was just slightly lower. Corn FUTURES The fact that China reopened imports of U.S. sorghum a...
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.