Wheat Last week’s rains slowed the wheat harvest, which advanced 9 percent last week. Argentina’s wheat crop is 40 percent harvested with yields averaging 1.68 MT/ha. Yields will start to increase as the harvest moves south and into areas less affected by drought. The crop is still estimated between 16.7-16.8 MMT. The local market has been slowly trading sideways between $205-210/MT ($245-250/MT FOB equivalent) with volumes mostly focused on spot positions. Farmers have sold 6.7 MMT so far, of which exporters have purchased 6 MMT. That is a sizeable volume for this point in the crop year given that the total export program is forecast at 10 MMT. The vessel lineup is starting to increase and there are vessels waiting to load 1...
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...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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.