World Perspectives

Unhelpful Timing; Tai Strengths and Weaknesses; IPEF’s Weakness

Unhelpful Timing The U.S. agriculture sector unleashed a pro-trade barrage on the Biden Administration this week and USDA bureaucrats wittingly or unwittingly contributed to the onslaught. U.S. agriculture is highly dependent on trade. It was first battered by Donald Trump’s trade war and it is now slipping further behind because of Joe Biden’s abidance to organized labor’s opposition to trade negotiations. Agriculture is now running a trade deficit and losing market share around the world.  The counterattack this week started with fifty-two agricultural trade groups urging Congress to expand trade, including passing renewed trade promotion authority. Association leader John Bode publicized that the EU and China are...

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Market Commentary: Down on the Day but Some Ups for the Week

Most of the major agricultural commodity contracts opened today’s trading session in the red and stayed that way to the close. Only feeder cattle and lean hogs managed small gains on the day. New contract lows were hit for December soyoil, September SRW and September HRW. Volume was overa...

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Dec 24 Corn closed at $4.1/bushel, down $0.1075 from yesterday's close.  Sep 24 Wheat closed at $5.235/bushel, down $0.1425 from yesterday's close.  Nov 24 Soybeans closed at $10.485/bushel, down $0.31 from yesterday's close.  Dec 24 Soymeal closed at $324.7/short ton, down $4.5...

Friday Shorts

Non-Meat: In a first, a Europe-based company has sought EU approval to market lab-grown meat, in this case fake foie gras. Some member states have already banned such products. While lab-grown meat remains expensive, and plant-based meat substitutes have faced declining popularity, the increase...

feed-grains soy-oilseeds wheat

Market Commentary: Down on the Day but Some Ups for the Week

Most of the major agricultural commodity contracts opened today’s trading session in the red and stayed that way to the close. Only feeder cattle and lean hogs managed small gains on the day. New contract lows were hit for December soyoil, September SRW and September HRW. Volume was overa...

wheat feed-grains soy-oilseeds

Summary of Futures

Dec 24 Corn closed at $4.1/bushel, down $0.1075 from yesterday's close.  Sep 24 Wheat closed at $5.235/bushel, down $0.1425 from yesterday's close.  Nov 24 Soybeans closed at $10.485/bushel, down $0.31 from yesterday's close.  Dec 24 Soymeal closed at $324.7/short ton, down $4.5...

Friday Shorts

Non-Meat: In a first, a Europe-based company has sought EU approval to market lab-grown meat, in this case fake foie gras. Some member states have already banned such products. While lab-grown meat remains expensive, and plant-based meat substitutes have faced declining popularity, the increase...

livestock

June Cold Storage Report

June 2024 total red meat and poultry stocks were up slightly from May but 5.4 percent below June 2023 levels due to sharp declines in poultry and pork stocks. Total poultry stocks were down 7.8 percent year-over-year (YoY) due to reductions in broiler slaughter for the month. Total pork stocks...

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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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