Wheat had an interesting trading day today. Chicago led the rally because that’s where the funds are short about 500 million bushels of futures. Short covering pushed prices above several moving averages, and that brought additional short covering. General Comments Markets were mixed overnight with soybeans turning firmer after the Brazilian impeachment vote results were known. Crude oil was down hard on news that no agreement was reached to curb oil production at the Doha meeting on Sunday.All of that changed when markets opened this morning with wheat, corn and soybeans notching good early gains. Wheat eventually took charge on fund buying. Last Friday’s Commitment of Traders report showed the funds had continued to add to those short p...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
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.