World Perspectives
energy

Diesel Inventories at Near Record Lows

Diesel fuel inventories are now at historic lows. As of the week ending 14 October, there were about 25 days of coverage from weekly ending stocks. That’s down from 39 days during 2020 and 2021 over the COVID period, and down from 34 days during the pre-pandemic 2017-2019 period.

The days-of-coverage is calculated by taking the weekly ending distillate fuel oil divided by the four-week average distillate fuel oil product supplied average. That is stocks divided by use, which results in supply coverage by days. The total product supplied – which is a proxy for demand – for the first two weeks of the month is about 3 percent above the 2017-2021 average seasonal demand for October. That seasonal demand includes two key co...

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Market Commentary: Mixed But Steady with an Outside Surprise

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Livestock Industry Margins

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Summary of Futures

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Mar 26 Corn closed at $4.275/bushel, down $0.0125 from yesterday's close.  Mar 26 Wheat closed at $5.3725/bushel, up $0.09 from yesterday's close.  Mar 26 Soybeans closed at $11.24/bushel, up $0.015 from yesterday's close.  Mar 26 Soymeal closed at $303/short ton, up $2.2 from ye...

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Black Sea Regional Analysis

Russian Grain Markets: 2–6 February 2026 The primary development during the first week of February was the allocation of grain export quotas for the balance of the 2025/26 marketing season. A total of 213 companies received export rights, compared with 219 companies in 2025. The majority...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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