World Perspectives
feed-grains wheat

After the Virus, Clouds of Locusts

So far 2020 has been difficult, to put it mildly. It started out on a high note with an apparent truce between the U.S. and China when the Phase One trade agreement was signed in mid-January.  But it has been downhill from there. The big issue, of course, is the global coronavirus pandemic. COVID-19 has sickened more than eight million people representing every populated continent with the number of deaths nearing 450,000. The economic fallout from the global efforts to limit spread of the virus has been and will continue to be severe. In aggregate the world economy has taken a bigger hit than it did during the Great Recession of 2009/10. Only now are governments taking cautious steps to reopen their economies, and plenty of questions...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close.  Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close.  Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close.  Dec 21 Soymeal closed at $356.2/short ton, down $9...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Fall on Weather, Weak Technicals; Livestock Markets Digest New Data

The CBOT pulled back again on Friday with weak technical conditions in corn and soybeans contributing to early declines. U.S. weather forecasts are mostly hot and dry still, but recent European model runs show greater precipitation for the central U.S. That put a bearish bias in the CBOT today...

wheat livestock soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close.  Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close.  Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close.  Dec 21 Soymeal closed at $356.2/short ton, down $9...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Fall on Weather, Weak Technicals; Livestock Markets Digest New Data

The CBOT pulled back again on Friday with weak technical conditions in corn and soybeans contributing to early declines. U.S. weather forecasts are mostly hot and dry still, but recent European model runs show greater precipitation for the central U.S. That put a bearish bias in the CBOT today...

wheat livestock soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

livestock

Cattle Supply Continuing to Contract in Line with Expectations

USDA’s semi-annual Cattle Inventory report was released this afternoon. All cattle and calves in the United States on 1 July totaled 101 million head, 99 percent of July 2020 – in line with pre-report expectations. Of that inventory, all cows and heifers that have calved totaled 40...

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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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