The big development at the CBOT on Wednesday was the lower close and apparent “hook reversal” in wheat futures, which initially traded higher but settled in the red. After their meteoric rise, wheat futures now look “toppy” with traders unsure whether the fundamentals (especially in the U.S.) justify current valuations. In response, bulls were unwilling to chase the market on Wednesday, and wheat futures pulled back. While wheat was lower, the corn and soybean markets turned higher with soybeans receiving a boost from rumors that China booked somewhere between 2-8 vessels of soybeans from the PNW in recent days. The economics certainly justify such trades on paper, and that gave a boost to old crop markets. Co...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
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.