GOOD MORNING, The WASDE’s major takeaway: we have less wheat supply around the world than we previously thought. This kicked off a short-covering rally, and brought new buyers to the table. Less production in Russia (down 3.8 MMT), Canada, Ukraine, Australia (suffering from severe drought), and the EU production lowered by 10.5 MMT. Russia's exports were down 2.5 MMT, Australia down 1.0 MMT, and Ukraine lowered 500 MMT, bringing ideas that the US may become more competitive via the numbers. Additionally, US wheat ending stocks were lower as well. Slightly offsetting this dynamic was increased production in each class of wheat. The all wheat total was raised 1.4 bpa to 50.0 bpa, with the largest in...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.