World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

General Comments This was not a pretty day in the agricultural commodity markets. Corn, wheat and soybean prices were slightly lower overnight, but those losses quickly accelerated this morning when fund selling took over the soymeal and soybean futures, eventually spilling over into corn and wheat. There were several reasons talked about for the sell-off, including:

Increased farmer selling over the weekend A better (wetter) forecast for Argentina Talk that China was going to auction some soybean reserves at below-market prices

We suspect the real reason for the selling was primarily technical in nature. November soybeans dropped to within 7-8 cents of recent lows, and December corn fell to new contract lows. That prompted mo...

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Jul 26 Corn closed at $4.635/bushel, down $0.0025 from yesterday's close.  Jul 26 Wheat closed at $6.1675/bushel, down $0.035 from yesterday's close.  Jul 26 Soybeans closed at $11.785/bushel, up $0.0375 from yesterday's close.  Jul 26 Soymeal closed at $319.1/short ton, up $2.6...

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Summary of Futures

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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.

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