Profit taking and surprisingly good crop condition ratings sparked a sell-off at the CBOT today. The overnight session featured losses of 3 cents for corn, 5.75 cents for soybeans and 8 cents for SRW wheat. The day session featured more of the same with bears testing key technical points for grains futures. Higher meat values underpinned limit-up gains in the cattle markets today and lifted the hog markets as well. Funds have been exiting their long positions in these markets over the past several months and are now turning into bargain buyers. With the Cattle on Feed report neutral the cattle markets from a supply standpoint, meat demand will be the key driver going forward. As mentioned in yesterday’s Market Commentary (click here...
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.