There was widespread weakness in many commodity markets today with grain and soy complex futures joining the march toward lower prices. Overall trading volume could not be called heavy, but it was steady. General Comments There was widespread weakness in many commodity markets today despite a weaker dollar. The ICE U.S. Dollar Index dropped 40 points, which was in part a reaction to signs that Emmanuel Macron, who supports France’s role in the EU, would win the French presidency this weekend. Especially weak was crude oil with NYMEX futures plunging $2.39 to close near $45.50 as big supplies hang over the market despite any OPEC production cuts. U.S. stock indices were barely changed.Grain and soy complex futures joined the march toward l...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.