General Comments Yesterday's lower crop yield and production estimates caught a bearishly oversold futures market leaning in the wrong direction which led to a flurry of short covering. It also encouraged fresh fund money to enter the corn market, something that the fund managers probably regret today. Yesterday's futures trading volume was huge as we had indicated, but except for corn, all of the volume resulted in very little change in open interest. Yesterday's (12 August) trading volume in rounded numbers and open interest change were:Follow-through buying kept grain and soy prices steady to firm in overnight trading but reality began to reassert itself by the opening of the day session this morning. First, private analysts began t...
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
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.