World Perspectives
energy softs

How Sweet It Isn't

Global sugar consumption has now paced below the population growth rate for three years in a row. After dipping sharply in 2019, per capita consumption continues to be lower than it was in the first part of the last decade. There are many factors involved including substitutes, price, and demand as a feedstock for biofuels. Although Brazil is a major producer of ethanol and is expending its feedstock from sugar to also using corn, its overall production of biofuel is forecast to increase, and livestock increasingly compete for the use of corn. Sugarcane grown at the equator continues to be the most efficient feedstock for ethanol.  The sugar industry points to the decline in sugar consumption concurrent with the increase in obesity to...

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feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.595/bushel, down $0.06 from yesterday's close.  May 26 Wheat closed at $5.8775/bushel, down $0.075 from yesterday's close.  May 26 Soybeans closed at $11.635/bushel, up $0.0225 from yesterday's close.  May 26 Soymeal closed at $326.6/short ton, down $1.4...

feed-grains soy-oilseeds wheat

Market Commentary: Oil and Iran Conflict Still in Drivers’ Seat, but This Time Creating Pressure

Volatility has been no stranger to the CBOT these past three weeks, and the one consistency during this time has been the dramatic coupling of ag markets’ fortunes to the foibles of crude oil. That was again true on Monday, but this time crude oil offered a bearish – rather than sup...

WTO Realism; Reindustrialization; Canadian Ego

WTO Realism The WTO’s 14th Ministerial Conference begins later this week, and while some have high hopes, pragmatists understand the elongated nature of consensus-based multinational policy development. EU trade minister Maroš Šefčovič expresses the hopes of his constituents...

feed-grains soy-oilseeds wheat

Summary of Futures

May 26 Corn closed at $4.595/bushel, down $0.06 from yesterday's close.  May 26 Wheat closed at $5.8775/bushel, down $0.075 from yesterday's close.  May 26 Soybeans closed at $11.635/bushel, up $0.0225 from yesterday's close.  May 26 Soymeal closed at $326.6/short ton, down $1.4...

feed-grains soy-oilseeds wheat

Market Commentary: Oil and Iran Conflict Still in Drivers’ Seat, but This Time Creating Pressure

Volatility has been no stranger to the CBOT these past three weeks, and the one consistency during this time has been the dramatic coupling of ag markets’ fortunes to the foibles of crude oil. That was again true on Monday, but this time crude oil offered a bearish – rather than sup...

WTO Realism; Reindustrialization; Canadian Ego

WTO Realism The WTO’s 14th Ministerial Conference begins later this week, and while some have high hopes, pragmatists understand the elongated nature of consensus-based multinational policy development. EU trade minister Maroš Šefčovič expresses the hopes of his constituents...

War in Iran Taking Toll on Meat Exports Globally and U.S. Agriculture

The war in Iran is taking a toll on meat exports as well as fuel and fertilizer. As noted in a letter to the Administration, “Maritime freight disruptions from the ongoing conflict in Iran pose significant consequences to food security here at home and around the world.” This comes...

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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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