The CBOT opened lower with continued pressure from excellent corn/soybean conditions ratings and increased chatter about above-trendline or record yields this year. Wheat futures were higher in range-bound trade as buy wheat/sell corn spread trading dominated the day. The lack of new daily export sales reports was a bearish weight on the soy complex today. Chatter is circulating that Brazil booked 2-3 cargoes of U.S. HRW wheat either Tuesday or Wednesday. The country removed its TRQs for non-MERCOSUR origins a few months ago, but this is the first U.S.-shipment of which WPI is aware. U.S. wheat is overpriced relative to global FOB offers, but cheap freight from the Gulf to South/Latin America has aided buyers in those countries and k...
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.