The CBOT was mostly lower on Wednesday with favorable U.S. weather providing little incentive to remain bullish corn or soybeans. Wheat futures were mostly lower following yesterday’s jump higher but still held technical support. U.S. equities and macro markets were sharply weaker on Wednesday, and that fact pressured CBOT markets as well, especially soyoil. Fundamental news remains light with no fresh export sales news and mostly favorable U.S. and international weather. Europe should receive hot weather this week, but rainfall will be adequate, eliminating any serious crop damage risk. Recent rains across Europe have greatly benefitted spring crop conditions and yield forecasts are improving. Southern Russia and eastern Ukrai...
Beef packer margins deteriorated to -$218/head last week, down $20 from the prior week as a softer Choice cutout combined with slightly lower fed cattle prices. The cutout slipped to $391/cwt while fed cattle prices eased to $256/cwt, leaving packer profits under pressure. Margins remain deeply...
What You Need to Know Today: The U.S. and Iran agreed to a peace deal on Monday with the deal expected to be signed Friday in Switzerland. The memorandum signed is explicit that Iran will allow 60 days of toll-free transit for all traffic through the Strait of Hormuz, and President Trump annou...
The U.S. and Iran announced a framework peace deal. Crude oil futures dropped to $83.08, the lowest since early March. The breakthrough comes as President Trump said that if Iran failed to reach a deal, he would order renewed military attacks. An LNG tanker chartered by India’s Petronet 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.