A bearish WASDE report and rains across the central U.S. production area sent the market lower today. USDA called for reduced output of corn and soybeans but not as much as the market expected. Both opened higher in the morning’s trading session with wheat mixed but corn turned south before the report’s release and soybeans sank like a rock after its issuance. It was a repeat of the lesson that USDA will not kill a crop until there is very strong evidence. The agency’s crop surveys are extensive and the differences with the trade were minor. The corn yield was expected to be cut 2.7 percent and USDA sliced it by 2.2 percent. The average guess was a 1.1 percent decline in the soybean yield, but USDA left it unchanged...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
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.