Markets were steady to fractionally higher overnight, and they traded slightly higher much of today. That was a small surprise considering the magnitude of the corn yield increase in yesterday’s USDA report. As Bob Kohlmeyer wrote (see Ag Perspectives, 9 November), the corn and wheat markets have been so bearish for so long that there wasn’t much selling pressure left. Funds are already holding a record short position in corn futures and have been short wheat for a very long time. There wasn’t much appetite, at least today, to enlarge those short positions. The fact it was Friday as well as the Veteran’s Day holiday probably also cushioned the sellers. Most of the government was closed today, but the banking industr...
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.