It was just last Monday that the August/November soybean futures spread set its high for the year at $2.32. Basis levels for both soybeans and soymeal were still screaming higher and it seemed a certainty that the August contracts would see a delivery squeeze. It all started to come apart in a very big way Tuesday and eventually that spread collapsed all the way back to $1.25. Basis collapsed as well. The same thing happened to the September/December corn spread. That basis also collapsed and producers tell us that they sold corn for $7.30 Monday afternoon with bids yesterday at $5.30.It is never pretty when the market decides it's time to collapse old crop/new crop inverses. The experience is painful if you held that last old crop bushel...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.