GOOD MORNING, The markets were given life and new direction courtesy of an unexpected bullish corn and bean stocks report this week. Fundamental jolts that coincide with chart price action always bring the largest bang for the buck. Between Monday and Tuesday, funds probably covered in about 50K contracts of corn but still remain about 100K short. Better hedge pressure was noted out of the west on the rally, with mixed cash at the Gulf. Funds could be closer to even in beans. Beans have a bid courtesy of more rumored bean biz with China, as Chinese privately-owned crushers were rumored to buy another 15 cargoes of beans in deals that could total another 1 mmt. The October 10 WASDE report also co...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.