Markets opened with Friday’s CFTC report driving much of the trade. The report showed funds long wheat, which led to liquidation trade today. Soybeans and soymeal were higher on further short covering while soyoil was under pressure from spread trade, weaker crude oil and energies, and palm oil’s turn lower overnight. Corn traded both sides of unchanged but spent most of the day in the red with limited follow-through buying after Friday’s strong close. Spreads were mostly dominated by the index fund roll, which will last through Thursday. The export inspections report was modestly supportive for corn with a 37 percent weekly increase in shipment volumes, but the 11.4 MMT YTD export total remains a headwind. Soybean...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.