World Perspectives
feed-grains soy-oilseeds

The Historic Context for January WASDE Yield Surprises

USDA surprised the commodity markets on Friday with bullish adjustments to the U.S. corn and soybean balance sheets, particularly the unexpected reductions in yields for both commodities. The surprise created by the latest balance sheet makes it worthwhile to evaluate the USDA’s adjusted estimates relative to historical patterns. For this analysis, WPI uses the USDA’s yield, harvested acreage, and production forecasts as published in the November WASDE(s), which are also used in the December WASDE and are, therefore, the most recent estimate ahead of the “final” numbers contained in the January report. Soybeans Perhaps the biggest surprise in the January WASDE was the sharp reduction in the 2024 U.S. soybean crop, which USDA pared...

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feed-grains soy-oilseeds wheat

Market Commentary: Big Bullish Whopper

This last trading day of the first full trading week of 2025 came in like a whimper and went out with a bang. The trading day started with a notably sub-par Export Sales report from USDA. New commitments for wheat, corn, and soybeans all hit a marketing year low for export sales last week...

biofuel

45Z Tax Credit Preliminary Guidance Released; No GREET Model Yet

As WPI reported on 6 December, the Treasury Department had promised that the compliance regulations for the 45Z Clean Fuels Production credit would be released by the end of the Biden Administration, implying no later than 19 January, the day before President-elect Trump’s inauguration.  T...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 25 Corn closed at $4.705/bushel, up $0.145 from yesterday's close. Mar 25 Wheat closed at $5.3075/bushel, down $0.0325 from yesterday's close. Mar 25 Soybeans closed at $10.2525/bushel, up $0.2625 from yesterday's close. Mar 25 Soymeal closed at $298.3/short ton, down $1 from...

feed-grains soy-oilseeds wheat

Market Commentary: Big Bullish Whopper

This last trading day of the first full trading week of 2025 came in like a whimper and went out with a bang. The trading day started with a notably sub-par Export Sales report from USDA. New commitments for wheat, corn, and soybeans all hit a marketing year low for export sales last week...

biofuel

45Z Tax Credit Preliminary Guidance Released; No GREET Model Yet

As WPI reported on 6 December, the Treasury Department had promised that the compliance regulations for the 45Z Clean Fuels Production credit would be released by the end of the Biden Administration, implying no later than 19 January, the day before President-elect Trump’s inauguration.  T...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 25 Corn closed at $4.705/bushel, up $0.145 from yesterday's close. Mar 25 Wheat closed at $5.3075/bushel, down $0.0325 from yesterday's close. Mar 25 Soybeans closed at $10.2525/bushel, up $0.2625 from yesterday's close. Mar 25 Soymeal closed at $298.3/short ton, down $1 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for December 27, 2024 – January 2, 2025. Wheat: Net sales of 111,300 metric tons (MT) for 2024/2025--a marketing-year low--were down 21 percent from the previous week and 70 percent from the prior 4-week average. Export shipments of 414,300 MT were up 9 percent f...

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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.

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