The CBOT shrugged off rumors of Chinese purchases of U.S. sorghum and DDGS for summer shipment as risk-off and position liquidation trade developed quickly this morning. The coronavirus’ impact on the stock market has been astounding, and early weakness in equities created risk-off trade in commodities as well. With global markets volatile to say the least, traders are looking to take positions (and any profits) off the table ahead of the weekend. News broke this afternoon that China has secured several cargoes of U.S. sorghum and U.S. DDGS for summer delivery, though exporters note no corn, soybeans, or wheat have been purchased yet. WPI notes that prices for containerized DDGS to Shanghai are up $22/MT for April shipment and...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
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.