World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary: Grain Futures Surge as Dollar Slides

The first full day of the Trump Presidency saw CBOT grain futures surge as the U.S. dollar pulled back sharply. Corn, wheat, and soybeans all saw strong buying influences after the long U.S. holiday weekend with traders seeing bullish news from several points. The first point was President Trump’s apparent decision to delay applying tariffs to a slate of U.S. goods. That brought significant relief that U.S. grain exports might not suffer another “trade war” as they did in 2018, though Trump has vowed to apply tariffs against Canada and Mexico starting 1 February. Next was the bullishness reflected in funds’ positioning in grains, per the latest CFTC report. Funds continued to expand long positions in corn and flipped...

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feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds adding to net long position across the major ag futures contracts after a two week break as deteriorating negotiations in the Middle East and the emergence of weather concerns triggered risk-on buying. Funds bought 40,000 contracts (4.7 percent) to their...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.6925/bushel, up $0.0575 from yesterday's close.  Jul 26 Wheat closed at $6.2975/bushel, up $0.13 from yesterday's close.  Jul 26 Soybeans closed at $11.92/bushel, up $0.135 from yesterday's close.  Jul 26 Soymeal closed at $327.8/short ton, up $8.7 from y...

Anxiousness and Petulance; Calling a Spade; Trade Talk Environment; MAHAHA Farm Bill

Anxiousness and Petulance The U.S. war with Iran has come down to endurance. Washington sees Iran getting squeezed as the blockade eventually causes Iran’s whole oil system to back up and be forced into shutdown. It is estimated that Kharg Island’s storage will be capped out in 12&n...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds adding to net long position across the major ag futures contracts after a two week break as deteriorating negotiations in the Middle East and the emergence of weather concerns triggered risk-on buying. Funds bought 40,000 contracts (4.7 percent) to their...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 26 Corn closed at $4.6925/bushel, up $0.0575 from yesterday's close.  Jul 26 Wheat closed at $6.2975/bushel, up $0.13 from yesterday's close.  Jul 26 Soybeans closed at $11.92/bushel, up $0.135 from yesterday's close.  Jul 26 Soymeal closed at $327.8/short ton, up $8.7 from y...

Anxiousness and Petulance; Calling a Spade; Trade Talk Environment; MAHAHA Farm Bill

Anxiousness and Petulance The U.S. war with Iran has come down to endurance. Washington sees Iran getting squeezed as the blockade eventually causes Iran’s whole oil system to back up and be forced into shutdown. It is estimated that Kharg Island’s storage will be capped out in 12&n...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina Corn Intermittent rains of varying intensity continue to disrupt Argentina’s corn harvest across key agricultural regions. Dry windows have not been sufficient to improve field conditions or reduce grain moisture, keeping progress slow and prompting many producers to prioritize...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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