World Perspectives
wheat

Wheat Less Symmetrical

Cash corn prices in the U.S., Argentina and Brazil tend to move in similar ways, with Argentina showing brief instances of outlier status.

However, comparing spot wheat prices in Argentina, the Black Sea and France shows a less robust upward movement in French wheat prices at this time of year. Part of this could be contra-seasonal effects, though the same should be true for corn. Moreover, the data is not adjusted for currency impacts. Analysis by USDA’s Economic Research Service certainly shows the dramatic impact of the depreciation of Brazil’s currency on that country’s agricultural exports (see graph below). The lower value of the real increased the competitiveness of Brazil’s output, which is why trade skept...

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Summary of Futures

Mar 26 Corn closed at $4.275/bushel, down $0.0125 from yesterday's close.  Mar 26 Wheat closed at $5.3725/bushel, up $0.09 from yesterday's close.  Mar 26 Soybeans closed at $11.24/bushel, up $0.015 from yesterday's close.  Mar 26 Soymeal closed at $303/short ton, up $2.2 from ye...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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