The market's tepid price action following yesterday's bullish (for soybeans and corn) WASDE was considered disappointing to market bulls, and long liquidation was the game today. General Comments China announced that its total exports fell 6.6 percent during March and total imports fell 11.3 percent. A decline in exports had been predicted, but imports fell more than expected. Raw material imports were hard hit. Crude oil imports fell to the lowest level in five months. Soybean imports in March from all origins were 4.6 MMT. That was nearly 1 MMT less than had been forecast, further calling into question USDA's estimate of 69 MMT of imports for the year. Analysts are drawing all sorts of conclusions from the Chinese data, but the most obv...
Key Takeaways: Milk alone has not covered the full economic cost in any year since 2021: milk revenue fell short by $4.50, $2.15, $6.50, $1.27 and $2.34 per hundredweight in 2021 through 2025. Calf and cattle prices decided whether dairies cleared cost: cattle and other income lifted total rev...
Key Takeaways: Dry bulk markets are mixed with Capesize rates seeing solid gains while Panamax values slipped on a growing tonnage list. Supramax and Handysize vessels were stronger, though all sectors remain vulnerable to the seasonal dip in rates through Q4 and into Q1. Falling water l...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
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.