World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies Despite Benign WASDE; Soyoil, Soybeans, Corn Post Technically Bullish Days

CBOT markets firmed heading into the April WASDE and continued their strength thereafter, despite a relatively benign USDA report. USDA stuck to its measured approach in estimating losses to South American soybean production as well as the Russia-Ukraine war. USDA’s policy is always to avoid forecasting policy changes and their impacts in the WASDE, and that approach has been extended to war impacts as well. The effect of this approach is that the agency’s Black Sea balance sheets are adjusting more slowly to the war’s impacts than are private estimates.  For the U.S., the April WASDE brought little changes to the major crop balance sheets, with 2021/22 corn ending stocks unchanged after offsetting adjustments to eth...

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feed-grains soy-oilseeds wheat

Market Commentary: Low Volume But Solid Intentions

The CME and traders recovered from a data center problem that halted overnight trading but it was the holiday interrupted week that sent trading volumes sharply lower on Friday. The day started with another flash sale of soybeans to China, evidencing that Beijing is committed to its agreement w...

livestock

Sow and Cattle Slaughter Dynamics

HOGS The USDA is releasing weekly slaughter data that was unavailable through the government shutdown. On average, through mid-November, sow slaughter has been around 57,400 head per week, which is about 3,400 head, or 5.6 percent lower than the weekly average of about 60,800 head per week in 2...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.4775/bushel, up $0.025 from yesterday's close.  Mar 26 Wheat closed at $5.385/bushel, down $0.02 from yesterday's close.  Jan 26 Soybeans closed at $11.3775/bushel, up $0.0625 from yesterday's close.  Jan 26 Soymeal closed at $318.7/short ton, down $1.7 f...

feed-grains soy-oilseeds wheat

Market Commentary: Low Volume But Solid Intentions

The CME and traders recovered from a data center problem that halted overnight trading but it was the holiday interrupted week that sent trading volumes sharply lower on Friday. The day started with another flash sale of soybeans to China, evidencing that Beijing is committed to its agreement w...

livestock

Sow and Cattle Slaughter Dynamics

HOGS The USDA is releasing weekly slaughter data that was unavailable through the government shutdown. On average, through mid-November, sow slaughter has been around 57,400 head per week, which is about 3,400 head, or 5.6 percent lower than the weekly average of about 60,800 head per week in 2...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.4775/bushel, up $0.025 from yesterday's close.  Mar 26 Wheat closed at $5.385/bushel, down $0.02 from yesterday's close.  Jan 26 Soybeans closed at $11.3775/bushel, up $0.0625 from yesterday's close.  Jan 26 Soymeal closed at $318.7/short ton, down $1.7 f...

livestock

Outlook for Cow Numbers Remains Limited

This year’s volatility in beef and cattle prices – particularly in the past two months – has heightened the industry’s interest in what the U.S. cattle herd will look like next year. The border closure with Mexico has certainly shrank cattle-on-feed inventories while str...

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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.

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