USDA released its revised acreage and 1 June quarterly stocks estimates at 12 p.m.(EDT) today. The acreage numbers for corn and spring wheat were slightly bigger than the average trade guess and along that of spring wheat also above the March planting intentions estimates but below those of 2017. Many analysts, including WPI, had expected a smaller spring wheat acreage estimate with a drop of as much as 500,000 acres from the March number. The report also showed that U.S. farmers planted more soybeans than corn. The real surprise is that soybean acres weren’t significantly larger considering the relative strength of soybean prices versus corn throughout the winter and into the spring planting season. If there was a minor disappointm...
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.