After 36 years of building its reputation in fundamentals analysis of energy markets, PIRA Energy Group, a New York-based international energy consulting firm, is expanding its commodities market coverage into the agricultural sector.
PIRA’s newly launched Agricultural Commodities Retainer Service (ACRS) is designed to update clients on global agricultural markets and ever-changing production and demand estimates, while offering insights on financial, as well as physical, trading opportunities through detailed price forecasts. The service is centered on corn, soybeans, soy products, and wheat, but coverage of other commodities such as cattle, hogs, and ethanol is also part of ACRS, as these commodities relate to demand for the underlying grains and oilseeds. While primarily quantitative in nature, ACRS also offers a unique view into the minds of major global farmers and Ags professionals on everything from fertilizer purchases and application tendencies to crop and seed choices.
PIRA’s entry into this new commodity field is aided by seasoned, hands-on experience. ACRS is supervised by Pete Meyer, who has been active in commodities for over 30 years, concentrating exclusively on agriculture for the past 15 years. Pete, who joined PIRA in early 2012, is known throughout the agriculture trading industry for his frank market commentary — “Opening Print” — and his broad contacts in the sector. This connectivity affords him key communication with producers throughout the critical stages of plant development and harvest. Prior to joining PIRA in February 2012, Pete held the position of Agricultural Commodities Specialist at Lehman Brothers and then JP Morgan, where he worked with a wide variety of clients, from hedge funds and pensions to energy companies and protein producers. Prior to those positions, he spent 14 years on the floors of the Chicago Board of Trade and the Chicago Mercantile Exchange, trading on behalf of diverse clients as well as proprietarily.
“PIRA’s strong reputation in the commodity analysis space was one of the reasons I decided to come here,” said Pete. “I’m excited to be leveraging their platform to create a unique product centered on agricultural products. Independent analysis is a rare commodity these days, and I’m happy to be with a team that produces such first-class products.”
Commented Dr. Gary N. Ross, CEO of PIRA, “Renewable fuel mandates throughout the world have created a demand for agricultural analysis to complement PIRA’s current energy consultation. Pete is well known for his unbiased views and brings a great deal of experience in agriculture to PIRA. We’re pleased to have him on the team and look forward to integrating his analysis into our product offerings.”
The cornerstone of ACRS is Opening Print (OP). Typically released three times a week before the markets open (during harvests and crop tours, OP is issued as frequently as five times a week), OP keeps clients current on ever-changing market dynamics by offering unique perspective as well as PIRA’s near-term price targets. From analysis of weekly market-sensitive data releases, to interpretation of recent price movements, to weather forecast changes and cash market updates, OP contains concise, timely, actionable insight and analysis.
In addition to Opening Print, ACRS keeps clients abreast of market developments an price movements with the Weekly Ags Scorecard, the WASDE Preview report, conference calls during important crop periods and after key data releases, Crop Tour updates (from the field), and an online database.