Soybean futures prices are more or less following their own path and ignoring the gyrations of the wheat markets as those futures fell victim to their own overbought condition. General Comments Grain and soy futures prices were somewhat higher as the overnight session opened, but they were soon in retreat. Traders who were expecting USDA’s crop condition rankings for corn as of 2 July to decline were surprised when the good/excellent rating actually increased 1 percent to 68 percent. The idea that the corn crop had not suffered any damage from heat and dryness, at least as of last Sunday, was enough to cause recent speculative buyers to try to bank whatever paper gains they had. The grossly overbought MGEX spring wheat market did not need...
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.