World Perspectives
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Sugar Volatility

It has been a volatile year for global sugar prices. They hit 27.95 cents/pound on 6 November 2023 – the highest since 1980. They fell 30 percent to 19.69 cents/pound in May and now are running around 20.26 cents/pound.   It is difficult to draw a complete supply/demand imbalance as the rationale. Global sugar production has been expanding by 1.21 percent per year, but over the same period, global ending stocks have declined by 1.46 percent per year. Yet human consumption has only been increasing by 0.57 percent per year. It would be easy to blame biofuels except the change in biofuels demand is not that different than the change from human demand. The area sown to both sugar beets and sugarcane has been relatively static a...

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feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds further expanding long positions across the major ag futures contracts for the eighth straight week. Funds added 244,000 contracts (40 percent) to their all-ags net long position – a massive weekly increase - with buying in corn and the soy complex...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.6725/bushel, up $0.0475 from yesterday's close.  May 26 Wheat closed at $6.1375/bushel, up $0.1525 from yesterday's close.  May 26 Soybeans closed at $12.2525/bushel, down $0.02 from yesterday's close.  May 26 Soymeal closed at $322.7/short ton, up $2.5 f...

feed-grains soy-oilseeds wheat

Market Commentary: Another Week of War and Commodity Gains

Corn and soybeans closed lower in the overnight session, and wheat joined them in trading lower this morning for a brief period before a turnaround that also pulled corn higher by the close. Soybeans couldn’t quite get there but did manage to erase the double-digit losses seen earlier in...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Friday’s CFTC report showed funds further expanding long positions across the major ag futures contracts for the eighth straight week. Funds added 244,000 contracts (40 percent) to their all-ags net long position – a massive weekly increase - with buying in corn and the soy complex...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.6725/bushel, up $0.0475 from yesterday's close.  May 26 Wheat closed at $6.1375/bushel, up $0.1525 from yesterday's close.  May 26 Soybeans closed at $12.2525/bushel, down $0.02 from yesterday's close.  May 26 Soymeal closed at $322.7/short ton, up $2.5 f...

feed-grains soy-oilseeds wheat

Market Commentary: Another Week of War and Commodity Gains

Corn and soybeans closed lower in the overnight session, and wheat joined them in trading lower this morning for a brief period before a turnaround that also pulled corn higher by the close. Soybeans couldn’t quite get there but did manage to erase the double-digit losses seen earlier in...

USTR Announces Multiple Section 301 Investigations

United States Trade Representative (USTR) Jamieson Greer on Wednesday announced the initiation of investigations regarding the “acts, policies, and practices” of various countries under Section 301(b) of the Trade Act of 1974 relating to structural excess capacity and production in...

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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