Friday’s CFTC report showed managed money traders breaking a three-week trend of net short covering in the ag space as managed money traders expanded their almost-neutral positions. The expansion of short holdings came primarily from selling across the three soy complex contracts and from net selling in wheat futures. Even with this action, funds are still practically neutral across aggregate ag markets, holding a minor short of 41,000 contracts. The neutral positioning leave an uncertain outlook for the fall and suggests that funds could easily push the ag markets higher or lower. Through last Tuesday’s CFTC reporting deadline, funds were bearish ...
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.