Corn and wheat found technical support Tuesday that created turnarounds on their respective charts and, in the case of wheat, formed bullish key reversals. News of smaller corn yields in the Midwest and strong export sales performance last week helped boost corn and wheat values following Monday’s moves to new selloff or contract lows. Conversely, news of larger-than-expected Iowa soybean yields and ongoing trade worries with China helped push soybeans to a slightly lower close for the day. Once again, cattle futures surged to new all-time highs with traders expanding bullish positions. Tuesday’s action suggests grains should continue to firm this week while the soy complex will struggle under the outlook of weak export demand a...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
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.