It is now highly unlikely we will see any major changes to the U.S. corn and soybean production estimates in future reports. The early and rapid pace of those harvests should mean that today’s yield estimates were very accurateToday’s USDA production and WASDE (supply/demand) revisions were basically neutral, at least in terms of the numbers themselves. The markets, particularly soybeans, took a different view. They traded down 9-10 when the report was released, but were a dime higher 10 minutes later despite the fact ending supplies didn’t drop as much as pre-report expectations. Below is a summary of today’s U.S. numbers:Corn: As expected, USDA didn’t make much of an adjustment in the corn yield, but it adjusted the yield up a half-bushel...
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.