Last year at this time, the red hot cash market and record high basis bids led the soy futures market to high prices and a wide old/new crop inverse. This year the reality of a relaxed cash market is dragging soy futures prices and the old/new inverse lower. General Comments There are now 11 trading days left before the first intentions day for deliveries against July grain and soy futures contracts, and there remains a sizeable open interest in each. Open interest in July contracts rounded to the nearest 1,000 as of yesterday's closes:July SRW: 147,000HRW: 39,000Corn: 373,000Soybeans: 164,000Soymeal: 111,000Soyoil: 119,000With the hammering that July soybeans and July meal took today, we suspect that a chunk of open interest was taken ou...
What You Need to Know Today: Chinese purchases of U.S. soybeans continued to accelerate, with USDA reporting another 558 KMT sold to China and 236 KMT to unknown destinations. Combined with sales announced Wednesday and Thursday, the latest purchases bring the three-day total to approximately...
Key Takeaways: With the fall calf run now upon us, producers are finally getting a glimpse of what their realized profits will be for 2026. Some producers may have already obtained a strong estimate of 2026 revenues, especially if calves were forward sold in, for example, the mid-summer...
As fall begins, wild migratory birds are starting their seasonal migration. That has the industry and government officials worried about the potential spread, again, of highly pathogenic avian influenza (HPAI). Some members of Congress have called for the United States to be prepared for a pote...
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.