The CBOT found a bit of strength for the day with corn seeing the most bullish action on expectations of a smaller 2023/24 Brazilian crop. Corn posted its second straight higher close with mild fund participation and the strength spilled over into wheat and soybeans to a small degree. Fresh news was a light for the day, except fresh daily “flash” export sales of soybeans, and the broader encouragement that Ukraine’s successful shipment of 3 KMT of wheat out of the Black Sea has brought to markets. One factor to watch in the Black Sea is the fact that, per the Wall Street Journal, Ukraine has successfully punished and pushed Russia’s navy to the point that it is no longer a major force in the western Black Sea...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
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.