Markets crashed last Friday when the fund buying dried up, so the sharply higher trade this morning caught the market by surprise. What seems to be clear is that the serious money is no longer super bearish.Markets crashed last Friday when the fund buying dried up. Improved weather forecasts for Argentina and Brazil brought some additional follow-through selling last night, but the funds regrouped and were buying soybeans and corn again in style when this morning’s session opened. Last week the funds reduced their net short position in corn by about 50 percent. If the current buying pace continues, they will shift to net long soon. They continued to sell more wheat and expand their net short position in that commodity as well as increase th...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.