For the third straight week, Friday’s CFTC report showed managed money traders paring back their slightly bearish combined bets across the ag space. The move came primarily from continued short covering in the soy complex, with modest buying activity in wheat and corn. Funds are now essentially neutral across aggregate ag markets, holding a minor short of 17,000 contracts. The short-covering trend defies the bearish fundamental outlook but follows the current technical strength, leaving a mixed outlook for the early fall. Through last Tuesday’s CFTC reporting deadline, funds were bullish ...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.