The CBOT was mostly lower overnight in continuation of yesterday’s selling, but the market turned around during the day session. Wheat futures found a bid and helped corn to a higher close as well. Soybeans were on the short end of intercommodity spreads in a relatively low-volume day of trading. USDA did not announce any soybeans sales to China this morning, meaning purchases are likely suspended until tomorrow’s U.S.-Sino meetings have set a general tone for relations going forward. One would expect that positive news (i.e., tweets) coming out of the meetings would spark some additional Chinese purchases. Outside markets were dominated by the continued retracement in crude oil prices and from the Fed’s anno...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.