The CBOT opened as called with corn, soybeans, and meal trading higher while wheat and soyoil traded lower. Those trends reversed around midday, however, with corn and soybeans losing steam and settling lower for the day while a short-covering rally spurred wheat to a higher close. Funds are thought to be modest net buyers for the day, though trading volume in most products (except wheat and livestock) was muted. The UN Food and Agriculture Organization (FAO) made a massive downward adjustment to Chinese (and, consequently, world) corn stocks for 2020/21. The agency revised its stocks estimate back to 2013/14 based on China’s aggressive purchases so far this year. The FAO now pegs China’s corn stocks at 139 MMT, down 54 M...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.