Markets opened steady to higher Thursday evening and then strengthened at today’s opening. They found some short covering to end the week, but there was little fresh news. What news there was seemed to center on the growing size of the fund short in corn futures as well as wheat futures. The problem of course is that there still isn’t a trigger to cause any significant short covering by these funds. They are now estimated to be short 250,000 contracts of corn and 125,000 contracts of wheat while still holding a small net long of about 30,000 contracts of soybeans. There is some concern about extended forecasts showing weather turning drier in Argentina, but Brazil’s outlook looks good. A siege of very wet weather across e...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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.