World Perspectives

How Hard Did You Work Today?

Commodity futures volume is notably higher on WASDE release dates, and understandably lower on short trading days like Christmas Eve. Putting it into context, in recent years the volume of soybean and SRW contracts traded on Christmas Eve has been about one-third the volume traded on the WASDE release date for December.  The highest recently traded volume for Christmas Eve was in 2017, while the lowest was in 2012. What is notable is that the volume traded on Christmas Eve has generally been trending larger. Meaning that over time, this is becoming a busier day for work. It is unclear whether this is the result of increased secularism, financial pressure, or the Amazon effect of enabling holiday shopping and commodity trading to occur...

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Markets were over-weight on the Xi – Trump phone call this morning. The phone call went well enough but after it became clear there was no deal on ag or soybeans, the latter turned south. Beans and meal had traded higher overnight and at the open, but like all three wheats, closed on loss...

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Summary of Futures

Dec 25 Corn closed at $4.24/bushel, up $0.0025 from yesterday's close.  Dec 25 Wheat closed at $5.225/bushel, down $0.0175 from yesterday's close.  Nov 25 Soybeans closed at $10.255/bushel, down $0.12 from yesterday's close.  Dec 25 Soymeal closed at $284/short ton, down $0.7 fro...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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