We are going into the fall this year with historically low natural gas prices, and the current bear market situation is being driven by one large factor.The U.S. Energy Information Administration (EIA) announced last week that U.S. natural gas inventories rose by 94 billion cubic feet to a total of 3.193 trillion cubic feet as of 28 August. That is 18.3 percent higher than last year at this time. It is also 4 percent above the five-year average, which is also higher than it was prior to 2010 because of the shale gas boom. The EIA numbers came in higher than most analysts expected. In fact, the range for the nearby contract between Memorial Day and Labor Day held steady at $2.60-2.95 per million Btu (mmbtu).Moreover, open interest on the NYM...
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.