GOOD MORNING, Prices started the session mainly mixed but turning two-sided during the overnight hours. Funds were net sellers yesterday as prices chop back and forth. The funds are now estimated to have increased their wheat length to around 10K, while long 235K corn. Funds are estimated to be long 85K beans, 15K meal, and 60K soyoil. Weather patterns continue to be the same, with the western Corn Belt in dryness while the east continues to see mostly beneficial weather. Higher bean crop ratings this week keeps the bull off the mark, while traders feel that corn is moving through pollination successfully, at least in the south and the eastern Corn Belt. Beans: Slower crush rates and higher soyoi...
What You Need to Know Today: Grain markets were sharply higher overnight and through the day session as the concerning wet weather pattern persists over the Midwest. Grain traders – and soybean market players in particular – will be closely parsing both what is said and unsaid from...
Key Takeaways: Higher interest rates increase the cost of financing agricultural production, reducing farm margins without providing any corresponding increase in production or revenue. The financial impact of higher rates varies considerably by operation, with highly leveraged producers and t...
Last week, the Senate Ag Committee passed the farm bill on a party-line vote upon the return of Senators Mitch McConnell (R-Kentucky) and Tommy Tuberville (R-Alabama), who missed the vote on 6 August (see WPI coverage here) when it failed by a similar party-line vote, 10-11. Democrats held the...
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.