Recall that the bearish 28 June Acre report caused a sharp sell-off in the December corn contract; down to about $4.90 per bushel. End-users found that to be an attractive price level prior to pollination and various speculators also perceived a temporary opportunity. Consequently, this combination of buyers drove prices back up to about $5.25 per bushel which was an area of technical resistance. As this price action was transpiring, improving weather forecasts made it increasingly evident that the U.S. corn crop would not be threatened by adverse conditions during pollination and the prospects increased that the $5.00 per bushel level would again be penetrated.The December corn contract steadily declined about 75 cents for the month-long...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
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.