Grain and soy prices crept lower overnight after Wednesday’s trading featured more large-scale liquidation of positions in December contracts. Open interest (O/I) in December corn dropped 93,790 contracts, with total corn O/I down 57,055 contracts. Soybean O/I climbed 9,877 contracts, which likely is mostly new spec longs. December SRW futures O/I fell 15,667 contracts. Open interest in December contracts was further reduced by deliveries. There were 2,000 contracts of SRW intentioned against Chicago wheat, a clear sign of how unwanted SRW is these days. That is the most wheat intentioned against Chicago wheat on the first day in many years. There were also deliveries of 55 KC HRW contracts and 200 MGEX HRS contracts. Corn deliveries...
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...
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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.