Almost everyone expected bearish corn and soybean numbers in today’s series of USDA reports, and that is what they were for the most part. If there was a bearish surprise, though, it came in the winter wheat acreage estimate. Southern Plains farmers apparently planted more hard red winter wheat than anyone expected, and that pressured wheat all day. Winter wheat acres will be lower than last year, but they will not be small enough to generate any buying. The trade was also expecting the soybean export forecast to be reduced, and USDA obliged by cutting 65 million bushels from the previous estimate. That was partially offset by a 10 million bushel increase in the crush forecast and a slight reduction in the soybean yield. Soybean endi...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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.