Overnight trading was mostly lower on technical trades, the fact that short covering seems to have ended for the week, and a new trade war. The president announced late Thursday that the U.S. would apply a 5 percent tariff on goods imported from Mexico, which will be gradually increased to 25 percent until illegal immigration across the southern border is sufficiently curbed. This creates the opportunity for retaliatory tariffs by the country that happens to be the largest importer of U.S. corn. The U.S. now has escalating or potentially escalating trade wars with its biggest purchasers of corn and soybeans. This is hardly a positive development for crop demand. The day session opened with continued soybean short covering and the unwinding...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reaching record net-long positions in September. Fundamental concerns surrounding yields, supplies, and global availability have helped justify the...
Under an Executive Order on 4 September, USDA announced $50 million in new funding to help states establish or expand meat and poultry inspection programs as part of an effort to increase processing options for livestock producers. It’s called the Stand-Up Program, which will help states...
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.