The unique aspect going into today’s WASDE report was the diversity of issues and opinions about what it would say. Markets are especially uncertain due to competing narratives. On one hand, the market trades on USDA’s numbers as the most authoritative. The weather is now better, and warm nights are boosting growing degree days. Yields in recent years have been to the upside as the genetics seem to push through all kinds of real and imagined hazards. Meanwhile, China’s feed demand will be lower due to African swine fever. On the other hand, the U.S. crop was planted late and under less than optimal conditions. Farmers are not selling their old crop corn, which is pushing basis higher and reducing exports. USDA says corn p...
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.