World Perspectives
feed-grains soy-oilseeds wheat

Money Flows versus the Market

WPI’s recent research suggests December corn futures are likely to see additional selling pressure while a bottom may be approaching for November soybean futures. The wheat market outlook is mixed with funds reportedly holding a small long position but more recent data suggesting they have sold a significant portion of that long. After yesterday’s amazingly bearish WASDE, nearly everyone in the market is asking, “What next?” Where does the market go from here? Although one can certainly quibble with USDA about the details of its fundamental analysis, history has shown the agency is adept at issuing long-run forecasts that ultimately are correct, or nearly so. Given the lack of new fundamental news found between yest...

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soy-oilseeds feed-grains

China In-Country Analysis

Oilseeds Soymeal Inventory Falls Below 1 MMT Strong downstream demand from the feed industry as hog prices continue to surge pushed China’s nationwide soymeal inventory below the 1 MMT threshold. The total stood at 940,000 MT as of 14 September 2018, down 83,100 MT (-8.1 percent) from the...

livestock

More Placements, Fewer Marketings, Bearish Cattle on Feed Expected

The cattle and beef markets need clarity. The last Cattle on Feed report was fundamentally bearish, but prices have only gone higher since then. Packer margins are near record highs for this time of year, while cash cattle prices are near seasonal lows. Feedlot margins are theoretically in the...

Taj Mahal Chicken Coups; Starving for Health; Climate and Trade Wars; E15 Push

Taj Mahal Chicken Coups California voters are once again set to roil agricultural producers elsewhere in the nation as they vote 6 November on Proposition 12. Pushed by animal rights advocates who are outspending opponents, it would mandate specific growing conditions such as enlarged spaces fo...

soy-oilseeds feed-grains

China In-Country Analysis

Oilseeds Soymeal Inventory Falls Below 1 MMT Strong downstream demand from the feed industry as hog prices continue to surge pushed China’s nationwide soymeal inventory below the 1 MMT threshold. The total stood at 940,000 MT as of 14 September 2018, down 83,100 MT (-8.1 percent) from the...

livestock

More Placements, Fewer Marketings, Bearish Cattle on Feed Expected

The cattle and beef markets need clarity. The last Cattle on Feed report was fundamentally bearish, but prices have only gone higher since then. Packer margins are near record highs for this time of year, while cash cattle prices are near seasonal lows. Feedlot margins are theoretically in the...

Taj Mahal Chicken Coups; Starving for Health; Climate and Trade Wars; E15 Push

Taj Mahal Chicken Coups California voters are once again set to roil agricultural producers elsewhere in the nation as they vote 6 November on Proposition 12. Pushed by animal rights advocates who are outspending opponents, it would mandate specific growing conditions such as enlarged spaces fo...

feed-grains soy-oilseeds wheat

Market Commentary

It was a trade war-influenced day at the CBOT with China adding tariffs to another $60 billion of U.S. products in a retaliatory response to the latest Trump-imposed tariffs on $200 billion of Chinese goods. The back-and-forth tariffs are not really causing further damage to major agricultural...

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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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