The November WASDE was expected to be bullish, but USDA’s actual numbers surprised even the most ardent corn and soybean bulls. One of the biggest surprises was the larger-than-expected cut to 2020/21 U.S. corn ending stocks, based largely on a huge export increase. The soy complex certainly received bullish news as well with USDA cutting 2020/21 ending stocks to their lowest levels since 2013/14. Heading into the report, the industry thinking was that 2020/21 corn ending stocks would need to fall below 1.9 Bbu to be bullish, and soybean ending stocks would need to fall below 200 Mbu. UDSA met both of those objectives for creating a bullish market response. Moreover, cuts to both world and U.S. ending stocks for corn, soybeans,...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
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.