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Market Commentary

Expectations of crop tours finding yields below USDA’s latest estimate gave the CBOT a boost to end what has otherwise been a bearish week. Private yield estimates prompted a round of short covering in the corn and soybean markets, while wheat was left largely directionless. Cattle prices remain under pressure from last Friday’s packing plant fire, and deteriorating fundamentals sent hog prices lower. Funds were (somewhat obviously) aggressive sellers this week but still slightly net long as of Tuesday as Monday’s limit-down close likely curtailed some trading activity. Commercials, on the other hand, actively pared back their corn short as end users secured coverage on this week’s break. Both funds and commercials...

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soy-oilseeds

WASDE Soyoil

The 2020/21 global oilseed supply and demand forecasts include lower production, lower exports, higher crush, and lower ending stocks compared to last month.  USDA reduced global oilseed production by 2.0 million tons to 604.2 million on lower rapeseed, cottonseed, and soybean production.&...

soy-oilseeds

WASDE Soymeal

USDA raised U.S. soybean crush by 15 million bushels - reflecting an increase in domestic soybean meal disappearance which is raised in line with an increase for 2019/20.  With projections for exports unchanged, 2020/21 soybean ending stocks are increased 30 million bushels to 425 million...

soy-oilseeds

WASDE Soybeans

USDA’s outlook for U.S. soybean production is at 4.14 billion bushels, up 10 million on increased harvested area.  Harvested area, forecast at 83.0 million acres in the June 30 Acreage report, is up 0.2 million from last month.  The soybean yield forecast is unchanged at 49.8 bu...

soy-oilseeds

WASDE Soyoil

The 2020/21 global oilseed supply and demand forecasts include lower production, lower exports, higher crush, and lower ending stocks compared to last month.  USDA reduced global oilseed production by 2.0 million tons to 604.2 million on lower rapeseed, cottonseed, and soybean production.&...

soy-oilseeds

WASDE Soymeal

USDA raised U.S. soybean crush by 15 million bushels - reflecting an increase in domestic soybean meal disappearance which is raised in line with an increase for 2019/20.  With projections for exports unchanged, 2020/21 soybean ending stocks are increased 30 million bushels to 425 million...

soy-oilseeds

WASDE Soybeans

USDA’s outlook for U.S. soybean production is at 4.14 billion bushels, up 10 million on increased harvested area.  Harvested area, forecast at 83.0 million acres in the June 30 Acreage report, is up 0.2 million from last month.  The soybean yield forecast is unchanged at 49.8 bu...

feed-grains

WASDE Corn

USDA’s outlook for 2020/21 U.S. corn is for lower ending stocks.  For 2020/21, corn production is forecast 995 million bushels lower based on reduced planted and harvested areas from the June 30 Acreage report.  The national average corn yield is unchanged at 178.5 bushels per a...

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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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