General Comments The shockingly high 1 March corn stocks reported by USDA triggered enormous trading volume in corn futures. CME corn futures volume last Thursday was about 655,000 contracts, the second highest daily corn volume ever. Monday's corn futures volume was 596,000 contracts. The two-day total of 1.251 million contracts of corn futures is probably the biggest on record for consecutive trading days. In terms of bushel volume, about a half an average U.S. corn crop changed hands during Thursday and Monday (Friday was a market holiday).As heavy as the volume of corn futures trade was, the most interesting aspect to us is the effect on the open interest in corn futures. Open interest went up 16,834 contracts on Thursday, and it fel...
Yesterday, Alberta held a referendum on whether to begin the process toward independence from Canada. With more than one million votes counted as of early Tuesday morning, around 77 percent supported remaining in Canada, and 23 percent voted to start the process of separation, according to unof...
Mediterranean/Middle East/North Africa/Africa – MEA Region Pakistan’s smaller wheat farmers have been holding protests to complain about the lack of a support price for wheat and the potential expansion of GMO crop production. They also want the reinstatement of PASSCO, the governme...
What You Need to Know Today: Harvest pressure in the U.S. sent corn and soybeans lower as supplies increased and there were signs USDA’s upward revisions to yields in the October WASDE could be close to right. The conflict between Russia and Ukraine escalated over the weekend, with Ukrai...
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.