Fund short-covering, worse-than-expected U.S. wheat conditions, and a hot, dry weather forecast for Argentina sent grains and oilseed futures sharply higher this morning. KC wheat gapped almost 3 cents higher at the start of the overnight and never looked back, finishing today up 16 cents. March Chicago wheat gapped higher in the overnight session too, though a brief mid-day bout of selling filled the chart gap. Corn and soybeans were higher overnight as well, though the fireworks were more prominent in wheat. Outside markets did not follow ags’ lead today, with the U.S. dollar falling 11 points as of this writing to 89.23, the Dow Jones index down 336 points (1.27%), and the S&P 500 off 24.2 points (0.85%). Of course, the...
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.