The quarterly stocks numbers for corn and soybeans were slightly bearish. The soybean number at 405 million bushels was 27 million bushels higher than expected. That provides a little more cushion to get to the new crop harvest.You don't have to read much analysis today to know that the USDA acreage and quarterly stocks numbers were all bearish. In fact, there was very little to find that was even neutral. Here are the numbers with our comments:There were several bearish surprises in today's planted acreage estimates. First, the total planted acreage for the eight major crops came in 5.3 million acres higher than the 31 March estimates. This acreage debate has lingered on for several years now, and the problem apparently is how prevented pl...
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.