The CBOT was higher on Tuesday with corn maintaining its range-bound trading pattern while soybeans and soymeal seemed to need to catch up with the soyoil rally. Wheat futures traded lower initially but quickly found substantial short covering that pulled the market higher and formed a minor reversal on the charts. Soyoil filled its overnight chart gap and settled higher, leaving the market showing few signs of slowing down. Macro markets were all weaker but that didn’t seem to faze the CBOT today. Funds are thought to have bought 10,000 contracts of wheat today, along with 12,000 contracts of soybeans and 4,000 of soymeal while also adding 6,000 contracts to their soyoil long. Funds were also net buyers in the corn pit, securing 10,...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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.